Debt & Stress: We’re here to help

Written by Adam Nakar on 15 October 2018

Being a business is tough.  So many liabilities, such as rent, rates, VAT, PAYE and utilities, can arise just through existing.  Sales and especially income, conversely, can never be fully guaranteed. Many employees and their families may be counting on you.

If times get hard, where liabilities keep arising without the income to support them, stress can come in very quickly.  Debts can quickly cause stress, anxiety, and depression – and this can more widely affect relationships with staff, customers, and family.  And, of course, it’s not good for the prospects of the business.

At the point where the level of debts starts becoming stressful, the right thing to do is to talk to a licensed insolvency practitioner, immediately.  They will be able to provide someone to talk to, to listen to the issues you are facing, and will be able to use their expertise to recommend the best option for you, whether a rescue plan or a terminal insolvency, as a way of dealing with the debts.

You should never be afraid to contact an insolvency practitioner if you fear for your predicament.  We have spoken to so many people who were nervous or reluctant to contact us, but felt reassured having done so, and positively relieved once a solution had been found and acted upon.

At WSM Marks Bloom we have three Licensed Insolvency Practitioners ready to speak with individuals and companies in financial distress.  Give us a call at WSM’s Kingston Office on 020 8939 8240 or email insolvency@wsm.co.uk, and an expert will be ready to assist you.

Adam Nakar Profile
Adam Nakar
Insolvency Partner