Contact us

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Help desk and advice line: 0800 077 8911
Lines are open 9am to 7pm Monday to Thursday, and 9am to 3pm Friday.

Types of finance available

  • Asset finance
  • Invoice finance
  • Traditional bank finance
  • Equity investment
  • Commercial mortgages
  • Bridging loans
  • Leasing

We specialise in:

  • Company voluntary arrangement
  • Administration
  • Creditors’ voluntary liquidation
  • Compulsory Liquidation

Domestic Call To Action IVA

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For more information and advice about taking out an IVA call now on
0800 077 8911

Domestic Call To Action DMP

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What to do now?
Call our friendly Debt Management team on
0800 077 8911

Advantages of a Debt Management Plan

Your Debt Management Plan will make your unsecured debts more affordable, ensure that you have a reasonable standard of living.
Below are some of the benefits you can enjoy with a Debt Management Plan from Lawson Fox:

  • AFFORDABLE – you only pay what you can afford
  • ONE MONTHLY PAYMENT – you avoid having to remember to make several payments
  • FLEXIBLE – the agreement can be changed if your circumstances change
  • PROTECT YOUR HOME – you’ll find rent and mortgage easier to pay
  • FREEZE INTEREST & CHARGES – although not guaranteed we are often successful in preventing your debts increasing
  • REDUCE STRESS – as we will deal with any phone calls or letters from your creditors
  • AVOID – legal insolvency procedures

An IVA comes with a number of positive benefits, including:

  • You pay a single, affordable, monthly payment which is fair to both you and your creditors.
  • Creditors are legally bound by the IVA meaning that they cannot take any recovery action against you.
  • Any debt you cannot afford to repay is legally written off, often saving you a considerable amount of money.
  • If you are a home owner your property is protected. However, it may be required that you re-mortgage after 3 or 4 years to release extra funds to repay creditors.

Pre Conditions for Administration

  • The Company has not in the previous 12 months been in Administration as a result of either a direct appointment by the Company or its Directors or an application by them, and it has not during that period been subject to a moratorium in respect of a failed Company Voluntary Arrangement (“CVA”) under Schedule A1 to the Act or a moratorium not followed by a CVA;
  • The Company is or is likely to become unable to pay its debts;
  • There is no outstanding application for Administration in respect of the Company;
  • The Company is not in liquidation; and
  • There is no Administrator or Administrative Receiver in office.

In the UK there are 3 types of liquidation applicable to limited companies.

  • Members Voluntary Liquidation
  • Creditors Voluntary Liquidation
  • Compulsory Liquidation

CVA procedure

  • An essential first step is to appoint a licensed Insolvency Practitioner to act as “Nominee”
  • The Nominee spends time getting to know and understand your business and helps you put together a proposal to tackle your financial problems.  This will include a profit and loss and cashflow forecast demonstrating that your business can achieve the repayment plan proposed
  • The Nominee writes a report for creditors confirming that he/she has reviewed the proposal and believes it has a realistic chance of success
  • All these documents are lodged with the Court
  • Creditors are invited to a meeting to decide if they wish to accept the proposal
  • Over 75% of creditors who vote must vote in favour for the proposal to be accepted
  • If over 75% is achieved all creditors are bound by the terms of the CVA