Business debt can be unmanageable for many reasons – bad luck, difficult decisions and external market forces. The Government-backed Money Advice Trust runs the Business Debtline, where you can get free debt advice and budgeting assistance. These services are designed to help businesses of all sizes resolve their financial issues and make it easier for them to continue trading. Thousands of businesses have benefited from these services, and they can help you as well.
How to Know about UK Business Debt Advice
The Money Advice Trust runs a free debt advice service for small and medium sized businesses and the self-employed. This service allows people to talk directly to their creditors and put solutions in place to eliminate debt. The website offers fact sheets, sample letters, a household and business budget tool, and a web chat service. You can also call the helpline for a free consultation. Alternatively, you can fill out an online form.
If you have a business in the UK, you may find it difficult to get access to free advice. The Government’s website provides information about the UK’s main creditor, HMRC. The ASA has ruled that companies can’t sell debt advice to consumers without giving them clear information about how much it will cost. In some cases, you may need to pay the full balance to the government. You should contact the UK Business Debt Advice service to discuss your situation.…Read More