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Helping your business through difficult times

Administration - Limited Company Debt

When a company gets into financial trouble an administrator may be appointed to help the company through the difficult times and start trading again if possible.

What is Administration?

Administrators can be appointed to a company that is unable, or is likely to become unable, to pay its debts. They can be appointed by the court (on application from a creditoror a director), the holder of a qualifying floating charge over the assets of the business, or, the company and its directors.

An administrator's primary role is to rescue the company as a going concern. If this is not possible, the administrator will try to get a better result for the creditors than would be possible if the company was wound up.

If neither of these solutions are possible, the administrator will sell the company's property and assets to make at least a part-payment (dividend) to one or more secured or preferential creditors employees or the bank).

Apply for Debt Help

If you would like to apply for help with a Limited Company Debt or if you would like to ask us a question regarding your individual situation get in touch today and our expert debt advisors can assist you.

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" I found McCambridge Duffy to deliver on what they said they would do and to do so quickly with a minimum of fuss. There were not endless phone calls and letters but they got the facts, assembled the proposal and put it in place very quickly. The process was made less stressful by the way in which they managed it."

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Work out what your new monthly debt repayment could be by filling in our debt and budget calculator form.

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IVA Example

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Client was struggling with monthly debt repayments of £500 to several creditors. We were able to have this reduced to £250 per month, with all interest and charges frozen. In 60 months, any remaining debts will be written off and they will be debt free.

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