Sole Trader Debt

Sole Trader | Self Employed | Small Business Debt

The challenge for a Sole Trader who is struggling financially is that there is no legal distinction between the owner and the business. Essentially, any debts accrued will be treated the same as personal debts.

In the event of any liabilities as a result of a failed business, you stand to lose everything including personal assets. Creditors will pursue you personally for full repyament of the debt.

If you are a Sole Trader and you are struggling financially, it isn't too late to get help. Contact us now at Business Debt Advice and we will do our utmost to help you and your business get through this difficult period.

How Business Debt Advice can help you

We have a highly qualified team of debt advisors and professionals who specialise in dealing with business and self employed cases. We offer a range of insolvency solutions that can help you and your business get back on track.

If you are self employed and having financial difficulty, there are a number of remedies available. Have a look at the solutions below. Alternatively, you can request some business debt help and we will contact you to discuss your situation in confidence.

Sole Trader Debt Solutions

IVA An IVA is a legal agreement between you and your creditors where you pay back a portion of the debts that you owe. In an IVA you can be debt free in 5 years or less. Read more	Debt Management A Debt Management Plan is an Informal Agreement between you and your creditors where you pay back your debts at an affordable monthly rate. Read more
Personal Bankruptcy Bankruptcy should only be considered as a last resort. Bankruptcy is a way of dealing with your debts if you are unable to pay them. Read more	Debt Consolidation Debt Consolidation is a method used by many people to consolidate their debts into one lower affordable payment. Read more

For more information on dealing with your Sole Trader Debts call the Business Debt Advice line on: 0800 0436 999