20+ Years Experience
Specialist Debt Advice
Company debt refers to the financial liabilities and obligations of a business to its creditors, which can include unpaid bills, loans, and other financial commitments.
Types of company debt can vary, including secured and unsecured debt, short-term and long-term debt, and revolving and non-revolving debt.
Excessive company debt can have negative consequences, including a decrease in credit score, difficulty in obtaining credit, legal action from creditors, and potential bankruptcy.
Managing company debt can involve various strategies, such as creating a budget, negotiating with creditors for payment term changes, consolidating debts, and seeking professional financial advice.
Options for dealing with excessive company debt can include debt restructuring, debt consolidation, debt settlement, and bankruptcy, with each option having its own pros and cons.
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