20+ Years Experience
Specialist Debt Help
Company debt refers to the money owed by a business to its creditors, including loans, unpaid bills, and other financial obligations.
There are several types of company debt, including secured and unsecured debt, short-term and long-term debt, and revolving and non-revolving debt.
High levels of company debt can negatively impact a business’s credit score and ability to obtain credit in the future. It can also lead to legal action from creditors and potentially result in bankruptcy.
A company can manage its debt by creating a budget, negotiating with creditors to modify payment terms, consolidating debts, and seeking professional financial advice.
Options for dealing with excessive company debt include debt restructuring, debt consolidation, debt settlement, and bankruptcy. It is important to consider the advantages and disadvantages of each option before making a decision.
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