TruSolv

2024 has been another interesting year at TruSolv. With 2025 on the horizon, here’s some of the highlights: 1. MVLs took over - We dealt with 75% more solvent liquidations than 2023 and expect the trend to continue into the New Year. 2. A boost for charity - We raised £12,458 at our annual golf day in support of The Knights Foundation – an increase of £3,135 on last year! (Scroll through the carousel for next year's date!) 3. A small change to the team - We’re proud to have a team that has changed very little over the years - in fact Sam celebrated her 15th year with us in 2024! In the summer, we said goodbye to Mike after 17 years. 4. Love for LinkedIn - We’ve continued to increase our following on LinkedIn, though surprisingly (or not) the content you most engaged with had nothing to do with insolvency! Matt Hoy's 'Secret Diary of an IP' continued to be popular! #TruSolv #YearInReview #Insolvency

As well as calling the team on 0808 196 8676 for advice, we have free guides on our website that can be downloaded instantly. If you're a concerned company director, we have a guide that shares information on potential business recovery options that may be available to you. Head to trusolv.co.uk to download a copy of the guide today. #Insolvency #Debt #Cashflow

When company directors are under financial pressure, they are more likely to make ill-informed decisions. These decisions could make the financial situation of the company worse and possibly put personal finances at risk. Some of the common mistakes we see directors make: ❌ Ignoring the problems - thinking that everything will fix itself in time. In reality, the problems escalate. ❌ Making preference payments - prioritising the repayment of one creditor over another. You must always act in the best interests of ALL creditors. ❌ Antecedent transactions - as soon as you are aware the company is insolvent, you must not take part in any transaction which would be deemed unfair or inappropriate. ❌ Using personal guarantees - really think carefully about this one. You’ll be personally liable for paying back creditors, and should you fall into further difficulties, assets like your home will be at risk. ❌ Overdrawn directors loan account - You’ll be personally liable for repaying the money to creditors if you have an overdrawn DLA. If you can’t pay back the money relatively quickly then you could be at risk of a personal insolvency procedure such as bankruptcy. We provide essential advice and guidance for UK businesses facing the multiple challenges of creditor pressure, actual or potential insolvency and the threat of liquidation. If you need to talk, call us on 0808 196 8676. #Insolvency #MentalHealth #Director #Debt

Here's a little glimpse into what a TruSolv Christmas Party looks like 👀 🎄 A very festive office - the whole team has their own personalised bauble 🎁 Secret Santa, Christmas tunes and mince pies in the office to start 🦃 A tasty Christmas Dinner at The Dancing Man 🍻 Lots of laughs with the team altogether enjoying their favourite Christmas tipple! There's even a video of our Christmas Party over on Facebook or Instagram 🤣 Have you enjoyed your Christmas party yet? #Christmas #Insolvency #Team

Could 2025 be another ‘make-or-break’ year for businesses? We asked the team at TruSolv for their thoughts on the outlook for 2025 and what advice they had for business owners already concerned about another year they may have to fight to survive. https://lnkd.in/eCDrYQnk Matt Hoy Gordon Johnston #TruSolv #Insolvency #Debt #Recovery

What's it like to work with TruSolv's MVL team? Here's some recent feedback from the advisor to an MVL client: "Thank you very much for your assistance with ABC Limited. The Director was very impressed and wanted me to let you know. I will be sure to refer other work to you based on this experience." At TruSolv, we have a dedicated team led by an insolvency manager with nearly 20 years of experience managing MVLs across various sectors. The MVLs range from complex restructuring liquidations through to the elimination of dormant and non-trading entities. If you have a client considering an MVL and you want the support of a highly experienced team to help them, call us on 0808 196 8676. #TruSolv #MVL #SolventLiquidation

You only speak with an insolvency practitioner when things are going wrong in your business, right? WRONG. Believe it or not, the work we do also helps business owners to plan the future of the company when circumstances are good. When the company is solvent, trading well, and creditors are comfortable with your ability to repay debt. Did you know that? Here's just three examples of how we help company owners plan for the future: 😊 When you're looking to retire 😏 When you're looking to move onto something else 🎯 When your goals have changed Matt Hoy explains more in this blog: https://lnkd.in/e9v4CYmZ #Insolvency #Debt #Retirement

What's the best piece of advice you've been given when times are difficult? It could be person or business. Share your words of wisdom today. You never know who it could help. #Insolvency #Debt #Support #TruSolv

When do you decide you need to ask for help? Is it as soon as 'cracks' begin to appear? When issues start to surface? Or do you wait until problems are becoming too big to ignore? When the business is feeling the strain and can't continue as it is? We speak to directors at both ends of the spectrum. Higher interest rates and increased employment costs both need to be managed by businesses next year. Why not speak to the team about your current situation and explore what your options could be? Call 0808 196 8676. #Insolvency #Debt #TruSolv

It's been a turbulent few years for this retailer... https://lnkd.in/eJZWPBCr #Insolvency #Adminisitration #Retail