When to Contact an Insolvency Specialist

At BRI Business Recovery and Insolvency, we understand that financial pressure, whether company or personal related, can build quietly over time. It’s common for people to delay seeking help. This could be because they are unsure about when to contact an insolvency specialist, or because they hope things will improve by themselves. Some of our clients also tell us the reason for their delay is because of fear of what the professional advice might be.

However, when it comes to seeking insolvency advice, the earlier you reach out, the more options there may be available to you. It’s worth knowing that there are key moments when contacting an insolvency specialist that can make a significant difference to your outcome.

Understanding When to Contact an Insolvency Specialist

Many directors and individuals believe that speaking with an insolvency practitioner is a last resort or something they should do only when all other options have failed. When, in reality, the opposite is true.

Early professional insolvency advice can often prevent a crisis from escalating. In many cases, businesses and individuals who contact us in time are able to avoid formal insolvency altogether. We can help with restructuring, repayment negotiations, voluntary arrangements, or managed closure if that’s ultimately the right solution.

You do not need to wait until a creditor has taken legal action, or until you can no longer pay staff, rent or tax. If you’re beginning to worry about your financial position, that’s the right time to contact an insolvency specialist. If this is you, make sure you speak to us.

Insolvency Warning Signs for Companies

There are several indicators that your company may be heading towards financial distress. Recognising these signs early and contacting an insolvency specialist can help you regain control before matters become critical.

You should contact us if your company:

Is consistently struggling to meet supplier payments or pay wages on time.
Has fallen behind on VAT, PAYE or Corporation Tax payments to HMRC.
Is relying on short-term borrowing or directors’ loans to cover daily expenses.
Is receiving letters or calls from creditors threatening legal action.
Has received a statutory demand, county court judgment or winding-up petition.
Is losing key customers or contracts and cannot replace the lost income quickly.
Has liabilities that exceed its assets.

If any of the above apply, your company could already be insolvent or at serious risk of insolvency. However, acting quickly allows us to explore rescue options such as informal agreements with creditors, restructure, Company Voluntary Arrangement (CVA), or administration all designed to protect you and the business.

At BRI Business Recovery and Insolvency, we will assess your situation and advise on the most appropriate next steps. Contact us today for a confidential, no-obligation consultation if you’re experiencing any of these challenges.

When Individuals Should Seek Help with Insolvency

Financial stress is not limited to companies. Many individuals experience mounting personal debts that become unmanageable. If you are struggling to meet your personal financial commitments, it is important to seek advice before the situation worsens.

You should contact us if you:

Are using credit cards, overdrafts or loans to pay for essential living costs.
Have fallen behind on mortgage, rent or utility payments.
Are receiving letters from creditors, bailiffs or HMRC demanding payment.
Feel overwhelmed by the amount you owe and can no longer see a way to repay it.
Are worried about the impact of debt on your family home or business.

At BRI, we provide clear, practical advice on all forms of personal insolvency, including bankruptcy, Individual Voluntary Arrangements (IVAs), Debt Relief Orders (DROs), and other solutions. Our aim is to help you regain stability, reduce stress, and move forward with confidence. If you’d like to arrange a confidential, no-obligation consultation, then please do contact us today.

Why Acting Early Matters When it Comes to Contacting an Insolvency Specialist

Whether you’re a business or an individual, contacting an insolvency practitioner early can make a crucial difference. The earlier you seek professional insolvency advice, the more choices you have and the better the potential outcome.

Benefits of acting early include:

More time to plan: Early action allows for proper assessment and preparation rather than reactive decisions.
Greater control: You stay involved in finding the right solution rather than having one imposed by creditors or the courts.
Potential to rescue the business: Many distressed companies can be restructured or refinanced with the right strategy.
Reduced personal risk: Directors can avoid allegations of wrongful trading or personal liability.
Peace of mind: Knowing your options helps reduce the uncertainty and emotional toll of financial pressure.

Whether your issue is business-related or personal, seeking advice early demonstrates responsibility and care for your future, not failure.

Why Contact BRI Business Recovery and Insolvency

At BRI Business Recovery and Insolvency, we are an independent, employee-owned firm of licensed insolvency practitioners. This means every member of our team is personally invested in providing considered, compassionate and effective advice.

We take the time to understand your circumstances and explain all available options in plain English. Our goal is always to find the right outcome whether that’s a business rescue, formal insolvency process, or simply practical guidance to help you regain control.

We pride ourselves on being approachable and supportive. Many of our clients tell us that just having an initial conversation with one of our specialists helped them feel calmer and more informed about what to do next.

How to Get in Touch

If you are unsure whether now is the right time to contact an insolvency specialist, it probably is. There is no charge and no obligation for an initial consultation — and it’s a good opportunity to talk through your situation confidentially with one of our experienced team members.

Whether you are a company director worried about cash flow or an individual facing personal debt problems, we are here to help.

Contact us today for an open and understanding discussion about your financial circumstances. Together, we can find the right way forward.