{titles} Creditors will say all sorts of things
just so you pay them but what’s the truth creditors have to follow the rules like anyone else which means they have to go to court to have their debt legally recognized – a county court judgment until then all they can do is wait and
threaten of course once the debt has been
ratified they are free to go further usually starting with bailiffs Bailiffs can’t just enter your premises they need your permission or police
support of course once they have been inside
they can come back at any time they want even if you aren’t there. Alternative, creditors may decide to go to a High Court and petition for compulsory liquidation This invites all your creditors
to a hearing to discuss your solvency if the court decides your business is
insolvent then a compulsory liquidation order will be made this is at the taxpayers expense so you may have one or two questions to
answer whatever stage or out please don’t
ignore the problem there are people that can help before it goes too far Video Created by Zen Content Marketing In Consultation with Focus Insolvency Group