oakdale-insolvency-2021

Self Employed and Sole Trader Debt Advice

admin@h10marketing.co.uk (H10 Marketing) — Tue, 07 Aug 2018 06:05:51 GMT

"There was a lot of other stressful issues going on in my life at the time of the bankruptcy and I have to say without Stuart’s advice and help I don’t think I would have gotten through it as well as I have. I cannot thank Oakdale enough. I would recommend them very highly."

Self Employed and Sole Trader Debt Advice

Personal Insolvency Advice for Individuals in Liverpool and Merseyside

Are you a sole trader struggling with debt? You may be a self-employed tradesperson, such as a builder, plumber or electrician, who has difficulties paying your supplier. You may work for yourself as a graphic design artist, a consultant or other specialist areas, but have mounting personal and business debts. Running a business is difficult as a sole trader and when things get difficult you may feel isolated and worried, confused about how and who to pay first. Self-employed and sole trader debt advice from Liverpool based Oakdale Insolvency Services Ltd can help put you back on the road to recovery.

Oakdale Debt Advice to Sole Traders

If you run your own business as an individual you are personally responsible for the debts and costs of running your business. If you can’t pay your business debts, then your personal income and assets could be at risk. This could mean your personal assets, even your family home, could be used to offset business debts. Some business debts are more important than others and what to pay first can be confusing. Self-employed and sole trader debt advice is a service offered by Oakdale Insolvency Services Ltd. The team of specialists can meet with you and run through the implications of your financial situation and help guide you through the system to a more satisfactory result.

Liverpool Based Insolvency Services

Oakdale Insolvency Services Ltd is a team of specialists, with years of experience, who help businesses find solutions to their financial problems. Your first meeting with Oakdale will establish the list of outcomes that you would like to achieve. As a sole trader this first meeting will cover both business and personal financial outcomes and give you confidence for the future. The team will help you prioritise your most important business bills, such as:

Business Mortgages
Business rents
Business rates
HMRC tax, VAT and National Insurance
Utility bills
Unpaid fines and supplier invoices

The team at Oakdale Insolvency Services Ltd can provide:

Advice on all debts
Offer support when creditors take action against you
Plan a recovery or exit strategy with you

From their offices in the North West, the Team at Oakdale Insolvency Services Ltd have extensive knowledge and experience of insolvency legislation and regulation and can help you make sense of your financial situation. Licensed and regulated by the Financial Conduct Authority, they can help you to understand and deal with creditors, banks, bailiffs, The Insolvency Service and HMRC, helping relieve the pressure that you are feeling if your situation is out of your control.

Free Consultation with Oakdale Insolvency Services

If you need any self-employed and sole trader debt advice or would just like to have an initial conversation about your financial situation, then contact Oakdale directly. Arrange a FREE, confidential, no-obligation consultation where you discuss your situation in more detail and receive initial recommendations from the experienced team

Phone 0151 928 4434

Email enquiries@oakdaleinsolvency.co.uk

www www.oakdaleinsolvency.co.uk

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Oakdale Insolvency Services Ltd

admin@h10marketing.co.uk (H10 Marketing) — Tue, 07 Aug 2018 06:03:04 GMT

Oakdale Insolvency Services Ltd

Corporate Insolvency and Individual Debt Advice in Liverpool and Merseyside

Have you had a change in business circumstances? Are you experiencing financial pressures as a business? Bank closing in, suppliers demanding payments, HMRC payments falling behind or cash flow issues? Maybe you are facing pressure as an individual due to unpredictable events, job loss, divorce or illness, resulting in falling behind on bills and payments. Oakdale Insolvency Services Ltd is a Liverpool based team of qualified experts who can help you organise your options and help you to get your situation back in control.

Why Oakdale Insolvency Services Ltd

How Do Oakdale Insolvency Services Ltd Work?

If you feel financially out of control, either in business or in your private life and you are struggling to manage bills and payments, Oakdale Insolvency Services Ltd are here to help you. They have a very simple process that can help you gain peace of mind:

Contact the team, preferably by phone and have an informal, confidential chat about your situation
Arrange a FREE, confidential, no-obligation consultation where you discuss your situation in more detail and receive initial recommendations from the experienced team
Review the discussion and recommendations, if happy, instruct the team to act on your behalf. The team will handle ALL letters and phone calls preventing you having to have those difficult conversations again.

With Oakdale Insolvency Services Ltd, financial peace of mind is as easy as 1,2,3 by receiving the best advice with the right solution to your financial problems.

Contact the team at Oakdale Insolvency Services Ltd for your FREE, no obligation telephone consultation and receive impartial advice about debt solutions.

Phone 0151 928 4434

Email enquiries@oakdaleinsolvency.co.uk

www www.oakdaleinsolvency.co.uk

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Facebook

“You must be really busy?”

admin@h10marketing.co.uk (H10 Marketing) — Tue, 18 Feb 2014 07:04:15 GMT

“You must be really busy?”

Access Debt Advice Early to Maximise Your Options

Over recent years many people have said “you must be really busy.”

Our answer to this justifiable assumption has always been: “We are steady, however the industry as a whole is the quietest it’s been for seven years”

When the recession began back in 2008 creditors were more aggressive, being quick off the mark to take legal action, such as obtaining CCJ’s, appointing administrators or issuing winding up or bankruptcy petitions.

After a couple of years it appears many creditors realised they were throwing away good money after bad. As a result they became a lot more relaxed allowing businesses and individuals to pay what they could afford in the hope that when the economy improved payments would increase or there would be assets to go after.

For the rest of 2014 we are expecting the answer to the same question above to be: “ Yes, we are busy.” Why is this you may ask?

Coming out of a recession many businesses begin to overtrade. Following a long drawn out period of low order books and not many new clients, the feel good factor returns. Orders increase and preparation for growth starts. Many however will run out of cash.

The next reason may surprise you.

History shows that when borrowing is easier to get hold of, company insolvencies increase. That’s right, yes. The reason the recession began in the first place, a lack of lending, will come to the fore again, in another guise as a contributor to an increase in insolvencies.

Finally we are expecting interest rates to start to creep up over the next 12 – 18 months. If they do, then more individuals and businesses are likely to start to struggle.

So after years of stagnation or negative growth, we are expecting an upturn in the economy. Ironically the knock-on effect for the insolvency industry is it will become busier. Hard to fathom really but, hopefully, our brief explanations as to why, makes sense!

“The Truth! What Creditors Can And Can’t Do!”

admin@h10marketing.co.uk (H10 Marketing) — Fri, 10 Jan 2014 07:03:57 GMT

“The Truth! What Creditors Can And Can’t Do!”

Understanding Debtor Rights and the Extent of Creditor Action

After the festive period, January and February tend to be tough months for anyone in debt. It is also when creditors increase their pressure and up the ante when pursuing debtors. Therefore, we have decided to set the record straight and dispel the myths that surround what creditors can and can’t do.

What creditors can do?

1. They can continue to add interest and charges to a debtor’s account in line with the original agreement, provided that debtor is not in a legally binding solution (such as an IVA or bankruptcy).

2. They can take money from connected accounts without any permission to do so, for example if a debtor has a credit card and a current account with the same bank they can dip into the current account and take what is owed on the credit card.

3. They can chase a debtor by phone or letter. Yes, they can call or write but they certainly cannot harass a debtor. See what they can’t do below for more details.

4. They can send doorstep collection agents. This is often used as a scare tactic, these are not bailiffs and have no more power than someone calling on the phone. They can be ignored or politely told to go away.

5. They can issue a default notice, usually sent after 3-6 missed payments. This is something creditors are legally required to send once a debtor has defaulted on an original agreement.

6. They can pass the debt on to internal or external debt collection agents. Although they can be more persistent and misleading, they don’t have any more legal powers than the creditor.

7. They can apply for a County Court Judgment (CCJ). Creditors and debt collection agents tend to use this route when they have exhausted calling and writing. As a scare tactic they may threaten to obtain a CCJ. It is rare for third party debt collection agents to actually instigate legal action due to the added cost.

What creditors can’t do?

1. They can’t harass a debtor. They are entitled to be informed of a debtor’s situation. There are guidelines set by the Office of Fair Trading in terms of how contact can be made and the frequency of the contact.

2. They cannot speak to a debtor’s family, friends, neighbours or employer about the money owed to them. They may do this to cause embarrassment in an attempt to try and get paid. Taking such steps is illegal.

3. They cannot enforce a debt unless they have obtained a CCJ. Creditors may threaten bailiffs but if they haven’t obtained a CCJ and if somebody should subsequently knock at the door they will be a doorstep collection agent who has no more power than somebody calling from a call centre.

At Oakdale we are specialists who act solely for our clients (the debtor) and not their creditors. If you are experiencing creditor pressure then please don’t hesitate to get in touch for a chat with one of our experienced, compassionate advisors on 0151 928 4434 or fill in the form & we’ll call you back.

8 Myths About Debt Part 2

admin@h10marketing.co.uk (H10 Marketing) — Fri, 01 Mar 2013 07:05:20 GMT

8 Myths About Debt Part 2

Understanding Personal Risk and the Implications of Becoming Bankrupt

Myth 5 – You will lose your property if you become bankrupt

It is a common misconception that you lose your property in bankruptcy. The asset within any property is the “equity”. This is the value of your property minus what is owed on the mortgage.

Once bankrupt the Official Receiver automatically takes ownership of your equity, however a third party i.e. a spouse, relative or friend can purchase the equity from the Official Receiver. If the equity has no value or is negative then a £1,000 administration fee plus a nominal solicitor’s fee can be paid to The Official Receiver. They will then relinquish their interest in the property.

Myth 6 – You can’t have a bank account if you are bankrupt

It is certainly difficult to obtain a bank account if your bankrupt, but it’s not impossible. If your try to open a “normal” bank account with any bank you will fail the credit check and be rejected.

At the time of writing this blog (March 20), we are aware that only Barclay’s provide bank accounts for bankrupts. As long as you have the required proof of address and ID you’ll be able to open a “basic” account. They provide a Visa Debit card and allow direct debits & standing orders. They also have branch, telephone and on line access.

We believe it is extremely unfair for the other banks to deny bankrupts a bank account. However in the near distant future this may change as the government is currently in talks with the banks to change their policy.

Myth 7 – Your employer will find out that you’re in debt

Bankruptcy is the only debt solution that involves your name being published. However it’s unlikely your employer is going to see your name in the obscure publication, the “London Gazette”.

If you bury your head in the sand and do nothing, a creditor may obtain a CCJ. Although it’s unlikely, once they have a CCJ they can apply for an attachment of earnings, requesting that your employer deducts money from your wages to pay the debt. Your employer may then assume you are having financial difficulties if this was to happen.

Myth 8 – You’ll never be able to get credit ever again

If your experiencing creditor pressure but have a good credit rating, any debt solution utilised to address your predicament will affect your rating. However you have to decide what’s more important… endless worry with a perfect credit rating or peace of mind and poor credit rating.

CCJ’s, IVA’s and bankruptcy all stay on your credit file for a total of 6 years. After this period all records are removed and you can effectively obtain credit again.

At Oakdale we are specialists who act solely for you (the debtor) and not your creditors. If you would like to discuss any of the above myths in more detail, call one of our experienced commpasionate advisors on 0151 928 4434.

8 Myths About Debt Part 1

admin@h10marketing.co.uk (H10 Marketing) — Fri, 15 Feb 2013 07:05:35 GMT

8 Myths About Debt Part 1

Understanding IVAs, Creditor Rights and Bailiff Action

Myth 1 – You’re alone

Research by R3 (Association of Business Recovery Professionals) suggests that there were around 574,000 people who had contacted their creditors informally about their debts, and a staggering 961,000 individuals who are struggling but have not sought help.

You are anything but alone! Here at Oakdale we have experienced compassionate advisors who are available to listen to your unforeseen financial predicament.

Myth 2 – An IVA can write off up to 90% of your debt

A significant proportion of debt can be written off in an IVA, however the average is closer to 50% and the highest is closer to 75%. These figures tend to relate to non home owners and for home owners the terms of the IVA usually stipulate a release of equity from the property in year 4 or 5. To release this equity you may be required to remortgage or obtain a secured loan on your property. The phrase “out of the frying pan and into the fire” comes to mind!

Myth 3 – Creditors can send in the bailiffs at the drop of a hat

There are a lot of misconceptions about what creditors can and cannot do. A creditor can only instruct bailiffs if they have taken legal action and obtained a CCJ. If the creditor doesn’t have a CCJ and somebody knocks at your door, the person knocking is actually a doorstep collection agent. This is often used as a scare tactic and anyone who calls at your property has no more power than someone calling you on the phone. You can just ignore them or politely request that they go away.

Myth 4 – Bailiffs are entitled to come into your home

Bailiffs have no rights of entry into your property unless they are invited in. However please be aware, even if you don’t invite them into your property they are allowed to walk in through an un-locked door or even climb through an open window. Therefore, simply keep the doors and windows locked.

Bailiffs are only allowed to force entry if a magistrate has given them permission to do so. This tends to be only when they are acting for HM Revenue & Customs or in cases when paying a criminal fine has been avoided.

Swallow your Pride and Create Peace of Mind!

admin@h10marketing.co.uk (H10 Marketing) — Tue, 08 Jan 2013 07:05:02 GMT

Swallow your Pride and Create Peace of Mind!

Immediate Debt Advice Can Protect You From Legal Action

Within our modern western world, we are all living in a status driven society. Within every social circle, regardless of class, the perception of others is more valuable than ever. Our powerful media has a great amount of influence on our daily lives, our behaviors, our living standards, and most importantly, what we spend our money on.

It’s no secret that the recent recession has had quite impact on a lot of lives all over the globe. Job losses, property repossessions and many a good business going bust are all the by-product of the worst recession since the 1930’s. More of us than ever are feeling the pinch and for some of us the burden of debt will be causing sleepless nights and endless worry.

People find themselves in debt often through no fault of their own. They are not irresponsible, they are just the victim of unforeseen circumstances … the loss of a job, ill health, an unsuccessful property ventures to name a few. It is the same for businesses who can also succumb to unforeseen circumstances … a bad debt, unsustainable growth, and a lack of cash flow are some of the many reasons why businesses find themselves debt.

Fear and anxiety grows from a lack of knowledge and understanding. If you don’t fully understand the true implications of being in debt then worry will just breed more worry. Our society deems debt a failure therefore many don’t like to face the music and address it. People and business owners with debt are often embarrassed and think they can fight the problem and get through the grim times without anyone finding out. Ultimately they want to maintain their status quo and preserve the illusion that life’s all good and they’re going to live happy ever after.

Although debt can be like a disease which can spread and get worse, both financially and emotionally, the reality is that debt is just an unforeseen circumstance which can be addressed and dealt with. It’s not the end of the world and believe it or not UK legislation is weighted heavily in favor of the debtor. The creditors don’t like people to know that and many have well trained staff or employ third party collection agents whose job is to try and squeeze every last penny out of you. They are often paid commission and will tell you any old nonsense in order for you to make a payment, whether you can afford it or not.

The first step when faced with debt is to empower oneself with accurate knowledge and understanding. Take control, forget about status and create peace of mind with quality advice. Look at your situation like this … if you had a burst pipe at home, would you try to fix it yourself? No, you would call a plumber. So why is it any different if you find yourself in debt? Eliminate the worry and put your mind at rest with quality, accurate advice which will allow you to understand that the situation you’re in isn’t so bad.

At Oakdale Insolvency Services we are specialists who act solely for you (the debtor) and not your creditors. We specialise in helping individuals and businesses deal with unforeseen circumstances whist protecting their assets, including property and vehicles. Our solutions are tailor made dependent on your unique circumstance and we have assisted numerous clients who are all happy to testify just how good we are. Check out our testimonial page as see for yourself!

To speak to one of out experienced compassionate advisors call 0151 928 4434 .

CCJ’s, IVA’s and bankruptcy all stay on your credit file for a total of 6 years. After this period all records are removed and you can effectively obtain credit again.

oakdale-insolvency-2021

Self Employed and Sole Trader Debt Advice

Self Employed and Sole Trader Debt Advice

Personal Insolvency Advice for Individuals in Liverpool and Merseyside

Oakdale Insolvency Services Ltd

Oakdale Insolvency Services Ltd ﻿

Corporate Insolvency and Individual Debt Advice in Liverpool and Merseyside

“You must be really busy?”

“You must be really busy?”

Access Debt Advice Early to Maximise Your Options

“The Truth! What Creditors Can And Can’t Do!”

“The Truth! What Creditors Can And Can’t Do!”

Understanding Debtor Rights and the Extent of Creditor Action

8 Myths About Debt Part 2

8 Myths About Debt Part 2

Understanding Personal Risk and the Implications of Becoming Bankrupt

8 Myths About Debt Part 1

8 Myths About Debt Part 1

Understanding IVAs, Creditor Rights and Bailiff Action

Swallow your Pride and Create Peace of Mind!

Swallow your Pride and Create Peace of Mind!

Immediate Debt Advice Can Protect You From Legal Action

Oakdale Insolvency Services Ltd