Business debt advice can be crucial when your business is facing unmanageable debt. Many factors can make it challenging for companies to repay their debts, and without the correct business debt help, shutting down or ceasing operations becomes imminent. Seeking business debt advice, business debt help, or business debt consolidation guidance can help you find practical solutions to avoid the dangers of unresolved business debt, especially if you run a company with unlimited liability.
Platforms to Connect with FCA-Approved Business Debt Advice and Business Debt Consolidation UK – Quick Overview
- Viva Debt Help: Overall Best Platform for Help with Business Debt
- Help My Debts Pro: Best Place to Get Help with Small Business Debt in UK from £5000
- Debt Nurse: Best Platform For Business Debt Consolidation Loan Options
- 123 Debt Fix: Best Platform for When Seeking Business Debt Recovery Advice
Thankfully, there’s no shortage of experts who can help with business debt, but not everyone who claims to offer help with small business debt is qualified. Whether you’re looking for a business debt consolidation loan, business debt recovery advice, or business tax debt advice, it’s vital to do your homework and ensure the debt advice business or company is impartial and FCA-approved. If you’re wondering where you can find authorised advisors who offer business debt help UK, we’ve got you covered! Read on to discover the top platforms you can use to access FCA-approved providers of business debt help. They can steer you in the right direction whether you’re considering business loan debt consolidation, a small business debt consolidation loan or small business debt consolidation services.
Top 5 Platforms Connecting Individuals with Business Debt Consolidation Advisors UK
#1. Viva Debt Help: Overall Best Platform for Help with Business Debt
Viva Debt Help ticks all the right boxes for the immediate assistance of businesses in debt. It ranks as the overall best platform to indicate you require help with business debt, thanks to a quick online process that connects you to a regulated debt advice solutions provider. You only need a few minutes to apply with complete confidentiality and get a quick response from an FCA-approved advisor who can help with business debt.
Viva Debt Help doesn’t offer business debt help advice, but it partners with advisors authorised to provide debt counselling and help you find the best solution for your business. The platform is committed to protecting and respecting your privacy and only shares your business debt details with a suitable advisor with your consent.
Highlights of Acquiring Help with Business Debt
- Immediate assistance
- Apply in minutes
- Complete confidentiality
- Quick access to an FCA-approved advisor
- Stress-free online process
Pros of Getting Help with Business Debt
- Protect your business from legal action
- Keep creditors from harassing you
- Get affordable monthly repayments
Cons of Getting Help with Business Debt
- Not all creditors will agree
#2. Help My Debts Pro: Best Place to Get Help with Small Business Debt in UK from £5000
Many business owners swear by Help My Debts Pro for coming through when they need help with small business debt in UK from £5000. It’s one of the best platforms when you need to be forwarded to qualified advisors for business debt advice and help. It features a convenient online process with zero delays and high professionalism.
Simply capture your business debt details on the no-obligation online form and allow Help My Debts Pro to pass your details to a regulated debt advice solutions provider. You can rely on the platform to give you access to a suitable and qualified advisor who can provide a solution that suits your circumstances.
Highlights of Getting Help with Small Business Debt from Qualified Advisors
- Convenient online process
- High professionalism
- Zero delays
- No obligation applications
Pros of Qualified Advisors Providing Help with Small Business Debt in UK
- Peace of mind from creditors
- A clear path to becoming debt-free
- Understand all the options available to you
Cons of Qualified Advisors Providing Help with Small Business Debt
- Results in less credit access
#3. Debt Nurse: Best Platform for Business Debt Consolidation Loan Options
Although Debt Nurse doesn’t offer debt advice, it simplifies the process of accessing qualified debt solutions providers. You only need to complete a simple debt assessment, and an FCA-approved advisor will contact you for business debt consolidation loan options.
Consolidating high-interest business debt into a lower-rate loan is a huge money saver. It can help you manage your debt and finances and free up cash to invest in your business or save. When you apply through Debt Nurse, you get clear, unbiased information on your options from a qualified provider to help you make an informed decision.
Highlights of Getting Business Debt Consolidation Loan Options
- Simple process
- Only deal with an FCA-approved advisor
- Clear, jargon-free information
- Impartial advice
- Zero pressure to commit
Pros of Obligation Free Business Debt Advice UK
- Save money on high-interest debt
- Lower monthly payments
- Eliminate certain debt fees
Cons of Obligation Free Business Debt Advice UK
- Not all debts are covered
#4. 123 Debt Fix: Best Platform When Seeking Business Debt Recovery Advice
123 Debt Fix makes it easier than ever to access FCA-approved providers who can advise on all kinds of business debt solutions and set them up for you. It’s an excellent platform for individuals seeking business debt recovery advice to be forwarded to qualified, accredited UK debt solution advisors.
You can apply online from anywhere through a few simple steps and get connected to regulated advisors dealing in business IVA, business debt relief orders or debt consolidation. The process is transparent and bias-free, and you’re not obligated to proceed with the recommended provider.
Highlights of Business Debt Recovery Advice from Accredit UK Debt Solution Advisors
- Apply online from anywhere
- User-friendly platform
- Bias-free process
- Zero obligation
Pros of Business Debt Recovery Advice
- Freeze interest rates and charges
- Write off balances on unpaid debts
- Allows you to make fixed, affordable payments
Cons of Business Debt Recovery Advice
- Not suitable for all debts
How Did We Choose the Best Business Tax Debt Advice Providers of 2023?
We considered the following factors when choosing the best business tax debt advice providers:
- Partnerships with FCA-approved debt solutions advisors only
- Online application processes
- User-friendly platforms that are easy to navigate
- High confidentiality
- Zero pressure to commit
Types of Business Tax Debt Advice Solutions
You can choose from different business tax debt advice solutions to suit your situation. These include:
Business Tax Debt Advice for Debt Management Plans
Debt management plans are informal agreements between your business and creditors to repay the debts in affordable instalments. It allows you to make smaller repayments towards your business debts and can also help reduce the interest you’re currently paying on your debts.
Get Debt Advice Business IVAs
Business IVAs are formal and legally binding agreements to pay all or part of your debts over an agreed period. You can get an IVA for your business debt whether you own a limited company or are a sole trader. You can include any unsecured debt generated from trading if you’re a sole trader, and if you have a limited company, a company voluntary agreement (CVA) will be more appropriate.
Get Debt Advice Business Debt Relief Orders
A debt relief order (DRO) can be suitable if you’re a sole trader or are in a partnership and have little available income to pay your creditors. You must also show that you don’t own your home and have little assets that add up to a value of £2,000 or less. You must get advice from an approved intermediary to see if it’s right for you. The intermediary will then make the application on your behalf.
What is a Debt Advice Business, and How Do They Work?
A debt advice business provides advice on various business debts. It offers practical solutions to help small business owners and sole traders, like the self-employed, regain control of unmanageable debt. The best debt advice business helps to proactively identify solutions for settling business debt without closing down.
The debt advice business works by looking at the business finances and creditors and determining how much the business can afford to repay after taking care of mandatory costs that allow it to remain operational. A debt advice business can also help approach creditors and negotiate better rates and terms that make repayments affordable. They can also set up suitable business debt solutions and manage payments to creditors on your behalf.
Features and Factors of Business Debt Help Services UK
Business debt help services from the reviewed platforms share the following features:
Business Debt Help UK on Debts Up to £30000+
You can access business debt help UK for debts of up to £30000 or more. Qualified providers also require a minimum debt of £5000.
Business Debt Help UK Associated Costs
Business debt help UK can feature various costs, including management fees, set-up fees or monthly fees for the lifetime of the debt solution. Providers usually set up such payments to cover the administration costs, including communicating with the various creditors, negotiating terms and setting up meetings. All legitimate providers must follow FCA rules and be open and transparent about the costs.
Business Debt Help UK From FCA-Approved Advisors
Ensuring you’re getting business debt help UK from an FCA-approved advisor is vital to protect you from harm and bad conduct. Anyone providing debt help UK services must be authorised by the FCA for debt counselling and adjustment. They must follow set rules and guidelines, including not misleading you, being transparent about costs and giving you all the necessary information.
Eligibility for Business Loan Debt Consolidation
Most business loan debt consolidation providers will require you to have been in business for two or more years, have enough cash flow to cover repayments and have a strong credit history.
What is Covered with Business Loan Debt Consolidation?
Business loan debt consolidation covers multiple high-interest business debts that can be rolled into one to allow easier and more affordable repayments. These can include secured debts, unsecured debts and revolving debts.
Costs of Business Loan Debt Consolidation
Taking out a business loan debt consolidation can come with additional costs like bank transfer fees, origination fees, annual fees and closing costs.
How to Apply for Small Business Debt Consolidation Advice
You can apply for small business debt consolidation advice through Viva Debt Help using the following steps:
Step 1: Complete the Debt Assessment Form to Indicate You Want Small Business Debt Consolidation Advice
Take a few minutes to fill in the information on your business debts on the online no-obligation form.
Step 2: Receive a Call from an FCA-Approved Advisor Providing Small Business Debt Consolidation Info and Guidance
Viva Debt Help will connect you with a qualified FCA-approved debt advisor who will contact you to discuss your situation and provide information on all available options.
Step 3: Determine Which Option is Best for Reducing Your Debts
From the options provided, determine the best solution to help reduce your debt and allow the advisor to help you set it in place. Of course, you’re not obligated to choose any of the solutions.
Does The Legal Status of My Business Influence Business Debt Advice?
Yes. The legal status of your business determines the type of business debt advice you require and how your debts are treated. Sole traders are usually personally liable for business debts. In partnerships, all parties are jointly and severally liable for any debts. In limited companies, the business is treated as a separate legal entity.
What Should I Look for in Business Debt Help Providers?
The most important factor to consider when looking for business debt help providers is whether the FCA approves them. FCA approvals protect you from bad actors and ensure you get the most appropriate advice for your situation.
How Does Business Debt Consolidation Work?
Business debt consolidation allows you to combine several existing debts into one new loan. You use the loan to pay off the debts, and you’re left with one loan, allowing you to make a single monthly payment instead of several payments for different debts. The best business debt consolidation loans feature lower interest rates than the previous debts and allow lower payments.
How Can an Advisor Help with Business Debt?
A qualified advisor can help find a suitable solution to manage your business debt proactively to ensure you don’t go out of business. They will assess your business’s finances and how much debt you have and determine the most suitable strategy to help you pay off your debts without hurting your business or getting liquidated.
Can I get Help with Small Business Debt when Insolvent?
Yes! Insolvency involves being unable to meet financial obligations to creditors as debts become due. You can be classed as insolvent when your debts outweigh your assets. A qualified advisor can still help with small business debt when insolvent through various solutions like a company voluntary agreement (CVA) or putting your company into administration.
Getting clear, unbiased information on appropriately dealing with excessive business debt is crucial to ensure you can continue trading and avoid losing your business. You can access some of the best business debt advice from qualified advisors by applying through Viva Debt Help. It features a fast and easy application process that connects you with an FCA-approved debt solutions provider authorised to provide debt counselling and advice. Apply today at Viva Debt Help and connect with a suitable advisor through a few simple steps!
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Disclaimer: All debt solutions should be very carefully considered. The websites advertised in this paid promotion do not provide debt advice. If you complete the form and provide permission to be referred, they will pass your details onto a regulated debt advice solution provider. All the partners they use are regulated by the Financial Conduct Authority to provide debt counselling. The websites advertised work exclusively with trusted debt solution providers. If you proceed with one of their solution options, they may receive a fee for introducing you to them. The websites advertised are lead generation companies who pass your details onto third parties in order to help you with your debt solution.