Insolvency and Bankruptcy support and advice from PCL Professional Business Consultants

Insolvency and Bankruptcy support and advice from PCL Professional Business ConsultantsIndependent Business Consultants. Support and advice on insolvency and bankruptcy, remortgaging,credit card problems,liquidation,management buy-outs,professional searches,debt,debt recovery,polecash, debt adjustment,ccj,bailiffs,debt advice and consultancy,restructuring,valuations and surveyinginsolvency and bankruptcy, remortgaging,credit card problems,liquidation management, buy-outs,professional searches,debt,debt recovery,polecash, debt adjustment,ccj,bailiffs,debt advice and consultancy Very few businesses can operate today without taking insolvency, advantage of the wide range of finance packages available Commercial Loans business property residential care homes buy-to-let business startups investment property What is Invoice Factoring? a method by which companies can borrow money on a short term basis an arrangement that allows a business to realise immediately the cash benefit of sales a bankrupcy advice, popular form of short term cash flow financing A Factor will typically pay up to 80% of the invoice value to the borrower with a balence (less fees) being forwarded liquidation, once payment is received from the debtor. Why use Factoring? to prevent business failure through lack of cashflow it offers a dynamic and flexible form of funding to ensure that businesses can pay wages or creditors on time Factoring allows business to have the cash available to fund the next order regardless of wether or not payment has been received invoice factoring, for the last order. Factoring has been used in the UK for over 35years more than 25,000 UK businesses use factoring, the majority with a turnover below Ł500,000 although by the end of 1999 there were over 800 businesses with a turnover in excess of Ł10m using factoring. Some of the benefits of factoring outsourcing the credit collection process mortgage rates, can reduce staffing costs tighter credit control procedures can reduce the incidence of bad debt may prevent the loss of sales due to lack of funds no annual fee or management charges discounts may be obtained by paying suppliers promptly growth financed by sales rather than external equity What is Asset Finance? a method of financing business assets by a secured loans, credit or leasing facility an arrangement that leaves other lines of credit intact for working capital security for the facility is taken on the asset being purchased with the cost being spread over a period up to the useful life of the equipment being purchased. Types of Asset Finance hire purchase lease purchase contract purchase finance lease operating lease mortgages, contract hire sale and leaseback the facility you choose depends on your particular needs. Consider your tax capacity and accounting needs, your cashflow and the asset to be purchased. It is important to seek professional advice before making the final decision. types of equipment suitable for asset finance cars light and heavy commercial vehicles unspecialised, home loans machinery plant IT hardware Benefits of Asset Finance the cost of the asset can be linked to the income it generates a straightforward facility to arrange the rental payments are agreed initially allowing simple cashflow management asset finance is non-cancelable providing the agreement is maintained correctly for more advice on commercial finance click here

Mrs A. (Small Business)

My situation seemed helpless. I was running a small taxi business, I am good at what I do but hopeless with business administration, does that sound familiar?

I was working all hours so I thought I must be doing well. Unfortunately the lack of administration got me into a position where I didn't know where to turn.

I had to answer the phone as it was my only source of income but it was also the direct way for my creditors to contact me! Local suppliers, the tax man and VAT office etc.

I'd just buried my head in the sand believing that if I carried on working hard I would be a success and everything else could be sorted out later.

How wrong I was. My business was like a house of cards which soon came tumbling down around me. I just didn't know which way to turn until I found PCL.

That one phone call completely changed my direction and made me into a successful, professional business woman. I am still working hard and very long hours but I no longer go around in circles getting nowhere. I am now in control of my business with hands on assistance from PCL.

PCL provide complete business management advise with monthly meetings to discuss the every day running of the business, the direction we are going and monthly reconciliation of business creditors.

I now have a successful business but more importantly peace of mind.

I have a fleet of modern vehicles from cars to tail lift people carriers and buses. I work on contract to local authorities and schools secure in the knowledge of regular monthly income.

Thank you PCL!

Mrs C (housewife and mother)

After many years of happy marriage and bringing up two young children my whole life was heading for the rocks. Bills were beginning to pile up, credit card offers too good to miss were also falling in arrears.

I was working full time and my husband was in and out of work. I came home one day to find a note stating that he had left the home and our marriage was over. I struggled on the best I could but got deeper and deeper in debt.

My health was suffering which forced some time off work then out of the blue my father died. I was devestated. Things surely couldn't get worse. A friend and neighbour confided in me that they had gone through a financial crisis a couple of years ago and they gave me PCL's details.

This was the turning point in my life. PCL arranged to come and see me even though I live in a remote area. They were so helpful caring and considerate, they put together a complete financial Statement of Affairs and contacted every creditor on my behalf taking away all the pressure from me.

This gave me a new lease of life and I managed to get a good full time job. PCL negotiated a reduction in my overall debt to a fraction of it's original amount then proposed a rescue package. I entered into an arrangement with all my creditors to pay off the debt at a monthly rate that I could now afford.

I cannot thank PCL enough on behalf of my children and myself. If I was not given the PCL contact who knows how I would have ended up, as it is life is looking good again, I have my self respect back and a spring in my step.

I may not have a husband but I know that PCL is only a phone call away should I ever need them for advise.

Friends in need have been kind to me and I consider PCL as one of them.

Mr B (Manufacturer)

I had what was potentially a successful manufacturing company supplying made to order high quality kitchens and furniture along with installation throughout the UK.

The business was being run from an Industrial Unit in Wales, which I had managed to purchase but unfortunately, there were matters coming to a head from my earlier days in business which I found I could not control.

I made contact with PCL who made an immediate visit. Unfortunately, they also, were not able to supply me with an answer to my immediate problem but did come up with a sound rescue package which involved putting my Company into Voluntary liquidation.

I lost the Industrial unit to the Liquidator but bought back all my plant and machinery. PCL opened a new business Bank Account for me and I was able to rent locally a new Industrial Unit to house the plant and machinery and trade forward.

With the assistance of PCL, who are always there whenever I needed their advice and guidance, I am now in complete control of my forward trading and business is looking as good as ever it was. All this with the benefit of hindsight and with PCL hands on assistance means all the remedial undertakings, painful as they were at the time, were all the right moves at the right time.

I now have my 'drive' back again and look forward to no many successful years in
business.

Mr D (Professional Man)

A professional man. who worked in a Partnership. PCL put together a complicated arrangement with his creditors. Hard as he did work unfortunately the arrangement failed and he finally filed for his own Bankruptcy.

This was not the end for this man, with the assistance of PCL he started again as a sole trader. Back In practice he worked all the hours he could. He took on a new partner (he got married) and together they worked and produced a very effective and lucrative business.

During this period PCL was able to secure a mortgage for them and get them and get them back on the property ladder. Less than a decade later they sold up and went into retirement.

A happy ending and we wish them well.

Mr E (Family man)

Married with two children we were contacted by Mr E to assist him with his problems. Two children attending school. Wife working part time. He, some two yew earlier was self employed and earning good money doing sub contract work.

He, at that time took on several Credit Cards that were virtually thrown at him. Unfortunately the good times were over and contract work came to an end. This left him with Credit Card debts along with a Mortgage he could not service.

He had the Mortgage changed to an 'interest' only one and still was unable to manage as he was in and out of work. He approached a well known firm of Financial Advisors who advertise on TV, with whom he entered into an Informal Arrangement with his creditors over a 13 year period.

Over this period interest would continue to be added to the debts where applicable. In desperation he contacted PCL who responded to his request for a meeting. We restructured his finances and he went into an arrangement with his creditors which froze all the interest on those debts over a period of 5 years, repaying only a percentage of the overall debt.

This gave Mr E a new lease of life and he secured a good long term job, which enabled him to service the arrangement and take the pressure off his marriage. PCL were also able to restructure his mortgage back to a repay one, with no addition to his mortgage repayments.