Crawfords Insolvency

Personalised insolvency services designed to suit your needs

Crawfords Insolvency’s practitioners are amongst the most experienced in the business, our insolvency services ensure you benefit from all this experience to achieve the best-possible result.

At Crawfords, we have been helping businesses with their accountancy needs since 1959, making us the oldest independent accountant in Manchester. We have seen every possible scenario and know exactly what’s required to achieve the best outcome, no matter your needs.

If you would like a free discussion regarding your situation with an insolvency specialist, call our team on 0161 956 2907 today.

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Why Crawfords?

The Crawfords Insolvency team is here to provide all the support you require during what may be one of the most difficult times in your life. Our insolvency practitioners have worked with businesses and individuals through the insolvency process for decades, and know exactly what to do to make it as simple as possible for you.

Our team will:

  • Perform a thorough review of your financial situation, ensuring we have all the knowledge required to proceed
  • Work side-by-side with you throughout the process, giving you all the information you need
  • Do everything possible to remove stress from you and provide advice for working through every eventuality.

In many cases, a review of your situation may reveal recovery being an option for your business. If this is the case, you can rest assured that we’ll do everything in our power to find the best debt solutions for your circumstances and help you restructure your business to return it to profitability.

Corporate debt solutions

If your business is faced with debts which seem unmanageable, our insolvency specialists are able to ease the burden with a range of corporate debt solutions. These include:

Creditors Voluntary Liquidation (CVL)

This is a process in which Directors make the decision to voluntarily wind up the company. This process allows Directors to nominate their own Liquidator, who will be responsible for realising any assets of the company and making distributions to creditors.

We will advise on if this is the right solution for your business, ensuring you understand all your responsibilities and your future liabilities are minimised. This process will enable you to proceed without requiring lengthy court proceedings and adding additional stress.

Company Voluntary Arrangements (CVA)

If your business is currently insolvent but simply requires some payment relief to get back to profitability, a CVA may be the ideal solution.

A CVA is an agreement with your creditors to pay them over a fixed period. Although this requires agreement from your creditors, it allows you to keep your business running during a difficult time and come through the other side successfully.

Our team will work with your creditors to secure agreements all parties are happy with and advise you on the best way to move forward with your business.

Administration Order

An administration order is a solution designed to give a company suffering financial difficulties the opportunity to come to an agreement with creditors before continuing to trade.

The administration order is a court order with protects the company from further financial action for a set period of time and is designed to help businesses successfully weather the financial storm.

Our team has vast experience in these time-pressured scenarios and will negotiate hard with your creditors to achieve a result which allows your business to continue trading.

Receivership

Receivership will usually result in the company entering liquidation at the same time, and focuses on winding the company up in such a way that benefit to secured creditors is maximised.

Directors cannot place their own company into receivership. Instead, it is something initiated by creditors who believe they will receive the best-possible return on monies owed.

Members Voluntary Liquidation

This process is used when a fully solvent company is being wound up because it is no longer required. Should you choose to undergo this, we will ensure all procedures are followed and the winding-up process goes smoothly.

Personal debt solutions

We have worked with individuals to ease their worries regarding personal debt for many years, and can help you find solutions in all key areas:

Individual Voluntary Arrangements (IVA)

An IVA is a legally-binding agreement with your creditors to pay them over a fixed period.

If your debts would be manageable over a longer time period than you are currently expected to pay them, we will demonstrate this and arrange an IVA which makes your payments manageable.

Informal Voluntary Arrangements

Similar to Individual Voluntary Arrangements, an Informal Voluntary Arrangement is an agreement with your creditor to pay them over a longer time period.

Informal Agreements, however, are come to by mutual agreement with creditors without the involvement of courts, saving you the added stress of a court case. If this is right for you, we’ll arrange it with your creditors, allowing you to focus on making payments, rather than worrying about getting into more debt.

Bankruptcy

If all alternative options have been exhausted and you’re still unable to pay your debts, we will help arrange a bankruptcy order and provide advice on moving forward from this measure.