189 - 3 Tips For Dealing With Insolvency

Business Legal Lifecycle Podcast

When the worst happens in your business you need to get the best help possible. Today on the show we’re talking about 3 ways to deal with an insolvency practitioner. This is someone you go an see if you’re worried about becoming insolvent or if you have already declared bankruptcy. This is one of the most difficult things a business person will have to deal with. Here are some tips about how to do it right. Be honest Make sure you give them all the information they need. Like your lawyer or your accountant, if you don't give them all the information that they can't give you the right advice. Don’t put you head in the sand If you’ve engaged an insolvency practitioner don’t avoid the difficult questions. It may be difficult to confront the mistakes you’ve made. But if you don’t things will only get worse. It’s not the end of the world Bankruptcy is never going to be something you want to happen. But plenty of people have had this happen to them and they have gone on to bigger and better things.