Is it really worth owning a business that is debt-ridden, where you are constantly being chased and harassed by creditors and where there is not enough cash-flow to trade out of it and get away from the debt and the problems? Getting rid of company debt is not as difficult as it sounds!
Company debt is stressful!
Nobody wants a company that has debt, experiences cash-flow problems where creditors call you every day and there are no answers. Sleepness nights, fear and worry that you may lose your company to debt and your assets put tremendous stress on your shoulders while you are trying to overcome the pressure while you are running your business. You may also worry that you can lose your personal assets like your house and furniture. Even worse, you fear that SARS may take legal action or take your money!
Is it possible to get rid of company debt while you continue to trade or is it just something that you keep unfilled on your wish-list? Can you save your business AND walk away from the problem? Can you prevent SARS from taking money out of your bank account or take legal action? Can you keep your assets while you save your business? Or are you going to lose your business and your assets, and is SARS going to close you down forever, leaving you in a position where you are never able to trade again? Will you be blacklisted in your personal capacity?
It is possible to legally get rid of a company full of debt while you continue to trade and keep your assets
There are options for the Business Owner that experiences financial pressure;
• Business Rescue
• Pay the Debt
• Do Nothing and hide
• Sell off all assets
• Stop trading and find a Job
• Make payment arrangements with your creditors and pay off the debt
At a time when it is critical to get rid of the problem while you continue to trade, none of the above are, in our experience, good legal solutions. Creditors will still call you, interest and penalties keep on running on especially SARS debt, payment arrangements with SARS seldom work and worse, the balances will keep on growing. In the end, you might lose everything if you carry with the suffering business for too long.
As experienced commercial lawyers, we can tell you that there are better legal solutions than to suffer through trying to trade out of debt. With our help, and if you do it right, which we will tell how to do, you can turn the situation around. We will help you, like we helped hundreds of other business owners 100% successfully, to get rid of company debt while you keep on trading and keep your assets.
Contact us to talk to a lawyer who can help you today!