Forbes Burton → Business Advisory Services → Company Rescue Plans

Company Rescue Plans

Key Contact

Ben Westoby

[email protected]

Get your company out of debt with a Fast Track Company Rescue Plan. The plans are a way of getting your company debt into one manageable monthly payment quickly and give it time to recover...

Patricia Birchall - Safety Advisory Services Ltd

Forbes Burton delivered a 100% professional services. Our case handler was Emma Blyth who kept us informed of each stage throughout from start to finish. I have no hesitation in recommending the service. Thank you.

A Fast Track Debt Management Plan for Limited Companies

Fast Track Company Rescue Plans are used in cases where a company is struggling to pay its day-to-day bills, but with some help could well become profitable again. They are used as a more cost effective solution to a Company Voluntary Arrangement (CVA).

In simple terms, all the company debt is moved into one manageable monthly payment so that the company can continue trading whilst making affordable payments to its creditors.

And, because it is an informal process, it is usually very quick to set up and get running, as long as their is no serious action being taken by any of the creditors.

Get in touch today

If you think a Fast Track Company Rescue Plan would be a possible route for your company call us on 0800 975 0380 now (free for mobiles and landlines) or email [email protected]

Fast Track Plans

On average, a Fast Track Company Rescue Plan fee will vary between £2,000 and £5,000, much less than a CVA which can cost upwards of £10,000.

This plan gives the company breathing space to be able recover and become viable once again.

Could a Fast Track Company Rescue Plan work for your company? Find out with our quick online test Fast Track Plan Test →

How we help

Fast Track Company Rescue Plans can be a good way to resolve company debt problems, in sixty months or less, the company could be debt free. Once the plan is completed all the outstanding debt could be written off.

From the start we will work with you to understand your company’s debt levels; we will then plan out the Rescue Plan. Once this is done we’ll help put the plan into action and aim to take the stress away by dealing with anyone you owe money to on your behalf.

Frequently asked Questions

Below are some of the most common questions we get asked and the answers.

Is your company eligible?

The company must be insolvent (can’t pay it’s debts as and when they fall due)
Projected cash flow forecasts must show that the company will be able to pay the agreed amounts of repayment to creditors
The directors must be confident that the business has a viable future and a good prospect of recovery

You can also take our quick online test Fast Track Plan Test →

What are the benefits of using a Fast Track Company Rescue Plan?

The main benefits of using a Fast Track Company Rescue Plan

Pressure from creditors and HMRC can be relieved while the plan is being prepared
Usually costs much less than a formal Company Voluntary Arrangement
All payments to creditors will be centralised into a single monthly payment
Company directors and shareholders do not lose control of the business
The plan is not public information: advertisement in the London Gazette is not required (as would be the case if the company went into any form of administration)
Cash flow is inevitably improved with reduced payments
The deal is mutually beneficial for directors and creditors, who enjoy repayment of 20%-100% debt in a reliable manner

What does a Fast Track Company Rescue Plan Proposal have to contain?

The Fast Track Company Rescue Plan proposal will contain information about the business and ourselves (Names, addresses and contact details). It will include information on the company’s affairs, including profits, losses, and significant transactions or events.

After this introduction will be the main proposals of the Fast Track Company Rescue Plan, followed by information about the company’s creditors and debts. Documentation will need to be prepared to supplement the Fast Track Company Rescue Plan.

How long does a Fast Track Company Rescue Plan usually take to set up?

In usual circumstances, it will take an average of 4 weeks altogether. Around 1 month will pass between our appointment posting the proposal to creditors. Keep in mind, however, that contributions to the plan could be required for up to 5 years depending on the agreement made.

When can a Fast Track Company Rescue Plan be used?

A Fast Track Company Rescue Plan can be used whenever a company is struggling to pay it’s debts and there is a good chance the company is viable. However, it must be used before a winding up order has been started against your company

If you have already been served a winding up petition, or your creditors are threatening to issue one, then you must act quickly as it may be more appropriate to use a Company Voluntary Arrangement (CVA). We would recommend getting in touch as soon as possible to prevent costs spiralling out of control.

Once the winding up order is granted, compulsory liquidation will commence, and at this point the possibility of the business recovering through any means is unlikely.

It is possible that if your company enters into administration, the administrator or liquidator will propose a CVA during the course of the procedure as a way to bring about a turnaround.

This is likely in the case of business with minimal assets, as they are likely to believe that a CVA would be more beneficial to creditors than to use the company’s assets to recover the debt. Likewise, a company in a CVA can also enter into liquidation.

How much does a Fast Track Company Rescue Plan cost?

The main expense that will need covering will be to formulate and present the Fast Track Company Rescue Plan on your behalf to the company creditors and this will vary depending on:

The amount of work involved
The particulars of your case

On average, the fee will vary between £2,000 and £5,000, much less than a Company Voluntary Arrangement which can cost upwards of £10,000. The fees come out of the monthly payment so there are no sudden surprises and we always tell you what they will be upfront.

At Forbes Burton we offer highly competitive rates, and we’ve helped hundreds of businesses avoid formal liquidation and dissolution processes. If your company is insolvent, the most important thing is to act quickly and avoid being accused of wrongful or fraudulent trading (never mind accumulating more debt than is needed).

How to get started

Does your company qualify for a Fast Track Company Rescue Plan?

Can your company be put into a Fast Track Company Rescue Plan? Find out using our free online Fast Track Rescue Plan test →

Call us for free advice

If you aren’t sure what to do you can call us on 0800 975 0380 for some free and confidential advice

How we work

With over 60 years worth of experience, our team are well placed to deal with the most complex of business issues. Understanding the landscape is critical. We have a wide range of tools at our disposal to effectively assist you and your business. Let us help you deal with any urgent and difficult situations your company is now facing.

Step 1

You discover our services

Take a look through our free resources, case studies, and reviews from our clients. You can then decide whether you would like us to handle your problems with one of our range of solutions.

Step 2

You get in touch with us

We do not charge for any initial discussions or meetings. Call us on 0800 975 0380 or email us on [email protected] safe in the knowledge that your conversation will be completely free of charge and no-obligation. We only charge once we have been instructed by you.

Step 3

Talk with our advisors

A cornerstone of our work ethic is confidentiality. We will discuss your options with complete confidentiality while we provide you with the correct advice. We absolutely will not discuss or pass on your details to any other parties without your express consent.

Step 4

Understand your options

We'll discuss the various options available to you, again this is free of charge. You can then decide if you want us to help you. All of our fees are clearly documented and therefore you don’t need to worry about any hidden costs. Forbes Burton is recognised for our clear, honest, and professional advice.

Step 5

We prepare the solution

If you decide to let us help you and your business we start work straight away, taking the stress and hassle away from you and giving you peace of mind. We'll let you know what is happening at all stages so you know everything is being taken care of.