Advice NI’s Business Debt Advice Service offers free tailored, independent and impartial advice to small and medium businesses.
The free, bespoke advice is available for sole traders, partnerships and Limited Companies.
A representative at Advice NI explained: ‘‘Our service is available to trading, or former trading businesses that are experiencing financial difficulties.
‘‘We provide telephone advice on money, debt and tax issues. Our Business Debt Advisers will explore and provide a range of debt resolution options and strategies, so that clients can make informed decisions on the most suitable solution to their circumstances and needs.
''We provide solutions for both personal and limited company debts. We advise on Bankruptcy, Individual Voluntary Arrangements, Debt Relief Orders and Debt Management Plans for personal debts. We also advise on options for Limited Companies including Company Voluntary Arrangements, Liquidation, Administration and Strike Off.
‘‘Our advisers can assist with budgeting and debt prioritisation by assessing credit control, cash flow and reviewing current business liabilities. They can negotiate with creditors and debt collection companies and where appropriate they will make referrals for additional support and advice.
‘‘We have a range of useful Business Debt factsheets and letters on all aspects of business insolvency issues along with step-by-step support on budgeting, debt prioritisation and negotiating repayments with creditors. These can be accessed and downloaded from our website https://www.adviceni.net/business-debtservice.
‘‘We understand the stress of managing a business and having to deal with financial problems, and we are committed to finding a realistic solution that is right for the client, their family and the business.’’