Insolvency can be a tough time for you and your business. Just the terminology itself can be intimidating and unnerving. But it doesn’t have to be and there are ways of making the process transpire as smoothly and pain-free as possible. Business insolvency is legally defined as a company which is unable to pay its debts. This can be either one of the two; the company is unable to pay debts as they fall due, or the company does not have enough assets to cover its debts.

If your company is facing insolvency and you are struggling to pay your debts, help is available.…