What happens to my commercial lease?
You will need to check your lease agreement carefully. Some leases have specific rules about what happens if you enter a debt solution. Your advisor will help you look at this before you make any decisions.
Do I need to tell my clients?
Formal debt solutions, such as an IVA, are added to the public insolvency register. For more information, look at our full guide to the insolvency register. But you do not have to directly tell your clients. We can help you manage your payments, so your supply chain keeps running smoothly without causing any alarm.
Can I keep my business bank account?
Yes, you can usually keep your account if you do not owe money to that specific bank. However, starting a formal debt solution will lower your credit score. This can make it hard to open new business accounts in the future