Pre-Insolvency Advice

If you’re facing financial difficulties, it’s important to take action as soon as possible. Once you enter a formal insolvency procedure, it can be very difficult to remove an insolvency practitioner. Therefore, it’s important to ensure you are going through the correct process with a licenced insolvency practitioner that understands your needs and your situation. 

Our pre-insolvency advice services can help you understand your options. Our team can help restore financial health to your company or personal finances and even help avoid any formal insolvency process. Our experts can assist with cost-cutting measures, debt restructuring, and other strategies to help you overcome your financial challenges and get back on track and ensure you get the best outcome for your situation.

  • What is pre-insolvency advice?

    Pre-insolvency advice refers to financial advice that is provided to a company or individual who is facing financial difficulties and is at risk of insolvency. This type of advice is given before the point of insolvency, with the goal of avoiding insolvency and finding a solution to the financial problems.

    Pre-insolvency advice can include debt restructuring, negotiations with creditors, and other strategies to improve the company’s financial situation. The aim is to help the company or individual to avoid insolvency, but if insolvency cannot be avoided, pre-insolvency advice can also help to make the insolvency process smoother and less financially damaging.

  • How can pre-insolvency advice help?

    Pre-insolvency advice can help in a number of ways, including:

    1. Identifying financial issues: Pre-insolvency advice can help to identify the root causes of financial difficulties and develop a plan to address them. This can include identifying unprofitable products or services, poor cash flow management, or high levels of debt.
    2. Avoiding insolvency: The goal of pre-insolvency advice is to help the company or individual avoid insolvency. By taking action early and developing a plan to address financial difficulties, pre-insolvency advice can help to prevent insolvency and its negative consequences, such as the loss of assets and the impact on employees.
    3. Restructuring debt: Pre-insolvency advice can help to negotiate with creditors to restructure debt and improve cash flow. This can include consolidating debt, reducing interest rates, or negotiating payment plans.
    4. Protecting assets: Pre-insolvency advice can help to protect assets from being seized by creditors or liquidated in the event of insolvency.
    5. Minimizing the impact of insolvency: If insolvency cannot be avoided, pre-insolvency advice can help to minimize the impact of insolvency on the company or individual. This can include developing a plan for winding down the business or negotiating with creditors to minimize the impact on assets and employees.
  • Who can provide pre-insolvency advice?

    Pre-insolvency advice can be provided by insolvency practitioners, accountants, financial advisors, and other professionals who have expertise in financial and insolvency matters.

    Professionals like Exodus Insolvency can provide guidance and advice on a range of issues related to insolvency, such as assessing the viability of the company, developing a restructuring plan, negotiating with creditors, and preparing for a potential insolvency process. It is important to work with a qualified and experienced professional who can provide tailored advice based on the specific circumstances of the company and its stakeholders.

  • What are the different types of pre-insolvency advice available?

    There are several types of pre-insolvency advice that may be available to companies facing financial difficulties. Some examples include:

    1. Viability review: A review of the company’s financial position to assess its overall viability and the feasibility of restructuring or turning the business around.
    2. Cash flow management: Developing a strategy for managing cash flow to ensure the company can continue operating and meet its financial obligations.
    3. Negotiating with creditors: Working with creditors to negotiate payment plans or debt restructuring arrangements.
    4. Cost reduction: Identifying opportunities to reduce costs and improve the company’s financial position.
    5. Developing a restructuring plan: Developing a plan to restructure the company’s debt, operations, or organizational structure to improve its financial position.
    6. Insolvency risk assessment: An assessment of the risk of the company becoming insolvent and the potential options available to address the situation.

    The type of pre-insolvency advice required will depend on the specific circumstances of the company and the financial challenges it is facing. It is important to work with qualified and experienced professionals such as Exodus Insolvency who can provide tailored advice based on the individual needs of the company.

  • How much does pre-insolvency advice cost?

    The cost of pre-insolvency advice can vary depending on the type and complexity of the advice needed, as well as the qualifications and experience of the advisor. Some advisors may charge an hourly rate, while others may charge a fixed fee for a specific service.

    It’s important to research and compare different advisors and their fees to find one that is both affordable and trustworthy. At Exodus, we offer a free, non-obligation initial consultation to talk through your options.

Do you need insolvency help? Call us today: 028 9344 0096

What our clients are saying...

5 Out of
5 stars

Gabriela Nester

Exodus Insolvency provided me with exceptional service during a very difficult time in my life. Their team of professionals were knowledgeable, compassionate, and understanding throughout the entire process. They helped me navigate the complex world of insolvency and made it much less daunting. I would highly recommend Exodus Insolvency to anyone who is struggling with debt and needs help getting back on track.

Dee McCallum

I cannot thank Exodus Insolvency enough for the support they provided me and my business. When I realized I was no longer able to keep up with my debts, I was afraid that my business would go bankrupt and that I would lose everything. However, Exodus Insolvency provided me with expert advice and helped me create a realistic plan to manage my debts. With their help, my business was able to survive, and I am now back on the path to financial stability.

Daniel Klein

Exodus Insolvency is a lifesaver! After struggling for years to pay off my debts, I decided to seek professional help. I am so glad that I found Exodus Insolvency. They were able to negotiate with my creditors and come up with a payment plan that worked for me. Their team was professional, friendly, and always available to answer my questions. Thanks to Exodus Insolvency, I am now debt-free and able to enjoy my life without the constant worry of financial stress.

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