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Email David Kirk
01392 474303
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Sole Trader or Partnership

Confidential & Impartial Advice

We give confidential and free initial advice to struggling business owners.

You may feel very vulnerable if you are self-employed or in a partnership as all the liabilities of the business are in fact yours as well. If your partnership has been set up as an LLP (Limited Liability Partnership) then your options are different and you should look at our limited company home page as those same rules will apply.

Our aim is to help you decide whether your business can keep going and if so the best way of doing that.

In some cases, you may already know what you want to do. For example, to just close the business and declare bankruptcy. However, you may be surprised how we can help, particularly if you own a house with your partner and how in some cases the house  can be protected.

We have listed below the various insolvency procedures open to you if you are self-employed or in a partnership with debts. We can help you choose the best option for you. Please do ask us if you would like any further information or how you think we could help.

Insolvency Options

This may be:
 
  1. Individual Voluntary Arrangement: We can go to Court and get your debts frozen giving you time to pay or come up with a proposal. This process called obtaining an interim order can be used for partnerships as well. IVA’s or PVA’s are then voted on by your unsecured creditors. You need 75% of those that vote (by value they are owed money) to agree to the proposals.
  2. Bankruptcy: We help you complete the necessary forms which can be done online.
  3. Informal Arrangement: Typically we make arrangements with your creditors to repay them once an asset has sold or over a period of six to twelve months.
  4. Debt Management Plan: This is a long-term time to pay agreement where the interest charges to you are frozen. You then make monthly payments based on what you can afford. They are informal arrangements and we do not deal with these. They usually work for private individuals not in business
  5. Partnership Administration Order:  A fast and efficient Court freezing order to allow the business to be sold on or financially restructured (only available for partnerships).

In all cases we ask you what you want to achieve and try and help you do that.

Next Steps

Please telephone or email us with any questions. An initial free meeting can be arranged to discuss your options. We will then go through the above possibilities with you, making clear recommendations suitable for you (there is no charge for the initial meeting).

A typical list of what we will ask you to bring with you to a meeting is:

  • A list of everyone you owe money to including copy letters from any who is pressing you.
  • A list of your assets.
  • Your last trading accounts.
  • Some photo identification.

Following the meeting we can set out the recommendations in writing for you to consider.

Email

david@kirks.co.uk

Phone

0808 1961496

Offices

Across the South West, London & Wales

Just a quick email to say a heartfelt thank you for your very calm, considered, expert advice regarding my circumstances on Tuesday. Things looked bleak before you explained my options much more clearly, in simple layman’s terms.
Rob Elliott
Kirks and their team recently advised me on the Members Voluntary Liquidation (‘MVL’) process. They made it very simple for me to understand the process, they kept me up to date with progress throughout the liquidation and expertly answered any queries I had. All interactions with Kirks were highly professional and it gave me confidence that my liquidation was safe in their hands. They promised a straightforward process and certainly delivered – I highly recommend the team at Kirks to assist with your MVL.
Daniel
Kirks provided a very efficient and cost effective service. They offered support and advice throughout the process and made prompt payments. It was a very professional and helpful service.
Richard
We have just had the pleasure of working with Kirks, to complete the closure of my company, everything went smoothly and professionally. I would recommend this company and the staff very very helpful and quickly finalised everything. Thank you Kirks.
Carol Hill
I found you very professional in all my dealings with you. You were knowledgeable and dealt with my case expediently. You answered all my queries on the way in full and everything happened as you said it would in he time frames you outlined in the very beginning. I would have no hesitation in commending you and your company to others
Allan M
We appointed Kirks to manage the process of an MVL when we had ceased trading and found their service to be very straightforward and thorough. A fixed fee arrangement provided us with reassurance and David explained the process clearly to us at the outset. A very professional service all round
David MillsDM digital Solutions
Thanks for all your help guys and for being quick in replying to phone calls and emails
Anon
I have found Kirks Insolvency to be very reliable in terms of their dealings with us as their customers. They are clear in terms of the process and what it entails and are very prompt when it comes to communications. I would recommend their services.
Michale P
I was very impressed with the speed and efficiency with which Kirks undertook the MVL and their help and assistance in explaining the process and resolving any queries.
Anon
Before meeting with Kirks, I had already met with a number of other insolvency practitioners none of whom I considered to be as clear cut and up front as David. The liquidation was executed quickly and professionally and I really am happy that I have done it.
Anon
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Just a quick email to say a heartfelt thank you for your very calm, considered, expert advice regarding my circumstances on Tuesday. Things looked bleak before you explained my options much more clearly, in simple layman’s terms.
Rob Elliott

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David Kirk

Licensed Insolvency Practitioner

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