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Personal Insolvency
The Personal Insolvency product is used mainly as a tactic during strategic planning, and would only be considered if a client had large personal debts in which could not manage. Personal debt may have been accrued through a Sole Trading business or Personal Guarantees made as a Director, or if company debt has been transferred to a Director through legal demands.
This product requires a great deal of work from the YBA team, making sure everything is completed in a transparent and commercial manner. This will involve making sure all business and personal assets are taken care of and protected where possible.
Your Business Angel’s role through this process is to support the client and deal with specialist practitioners such as valuers, lawyers and Trustee’s on behalf of our client. This product relates mainly to Sole Traders OR a Director of a company who has large personal debts and is facing bankruptcy.