One of the greatest fears for directors is how creditors will respond to the news that they will not be paid on time, or maybe not at all. Big organisations often have seemingly inflexible policies while smaller creditors can react emotionally to the situation.
However, it may be that a company can be saved and creditors eventually paid in full if it is possible to buy some time. This is where having an insolvency practitioner involved as early as possible can be invaluable. We can guide you through the realities calmly and dispassionately. If necessary we can deal with your creditors directly taking the heat off you and creditors in turn can be reassured that the distressed business is receiving proper advice.
Above all McTear Williams & Wood can introduce some certainty into a fraught situation. Whilst this might be your first time dealing with creditors as a director we have faced similar circumstances many times over on behalf of our clients and we know exactly what to do for the best.
Find out how we can help - call 0800 331 7417 for advice.