As companies tighten their belts to ride the financial storm, they are thinking of effective ways to collect their debts. This means that more companies are being issued with County Court Judgements (CCJs); these may be justified or may be part of a dispute. A CCJ can be a slippery downward spiral to financial ruin unless you act fast.
If a bailiff walked into your premises today (if your premises are solely commercial they do not need permission) are your assets protected? Could they take them? In 99.9% of the businesses we visit there is no protection and the bailiffs can legally take goods.
Tenable Solutions Limited main aim is to protect the business, directors and their assets. Many people are under the impression that a Directors Loan offers protection – the simple fact is it doesn’t. If the company closes (or is forced to close) the Directors Loan would not receive any preference over any other creditor.
Worryingly, many businesses rely on their accountant to protect their assets and they are not aware of the quandary they could find themselves in even if the debt is disputed.
If you would like to discuss this matter further or to arrange a free consultation please do not hesitate to contact us on
0800 4 96 95 94
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