Trading out

Trading out of an insolvency situation for limited companies

We can provide advice on the best way to approach a company's creditors and organise its repayments and so begin actively trading out of the adverse situation. Our advice team help is readily available. Call us or apply online for detailed trading out advice

Many businesses fail due to not taking advice early on. Our advice team understands why businesses fail and as such have built up a wealth of experience which can avoid business failure by trading out.

The key to trading out of business problems is the three-step approach:

  • Work out the scale of the problem;
  • Draw up your budget; and
  • Don't let matters slide - get help if you need it

Key Advice on Trading Out

  • Whatever you do, don't let matters slide
  • Don't ignore any letters or court papers
  • If you get letters from your creditors or a summons to attend a court hearing, don't ignore these
  • DO stay in contact with your creditors - they are more likely to be able to help you if they understand your circumstances
  • DON'T fail to attend court hearings - the court will have no opportunity to hear your side
  • Some advice organisations will help you to prepare for a court hearing and in severe cases may even agree to represent you in court

If your business is experiencing difficulty, you can gain confidential and non-judgemental advice from the 'trading out' team today or apply for advice online