Beware of borrowing or lending money!

The pandemic has brought about an extraordinary amount of financial distress for millions of people.

Many are turning to family and friends for help.  People who have the means to help out are generally happy to do so, but problems arise when repayment agreements are defaulted, which can cause family bust ups and relationships to break down.

Anybody considering lending money to a friend or family member is advised to get something in writing and set up an affordable and realistic repayment plan.  Having the arrangement in writing can help should it ever come to a small claims court for repayment.

By far the best way for anybody in financial difficulty is to seek help either from a debt charity or an insolvency practitioner who will not charge for an initial meeting.

For more information on bankruptcy, liquidation, administration and all the other insolvency procedures, or should you or your company be facing financial difficulties and you need to chat, please telephone Charlotte Hutchinson on 01377 257788 and she will make you an appointment with one of our insolvency professionals at our Driffield, Hull, Grimsby, Scunthorpe or York offices.  Our initial meetings are free and without obligation.  Meetings can be held virtually or in any of our offices whilst observing the socially distancing guidelines.

Because we are an independent insolvency practice, we keep our overheads low and have put systems in place to deal with simple liquidations at an affordable price of from £1,995 + VAT + Disbursements.  Our MVLs are from £995 + VAT + Disbursements.

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