Choosing the right debt adviser matters. The wrong one costs money and time; the right one can save the business. A few questions up front tell you which you have found.
Are you free and independent?
Ask whether the advice is free and independent. Services like Business Debtline are both, which means their only interest is your best outcome. Be cautious of anyone charging upfront fees or steering you to a single product.
What are all my options?
A good adviser lays out the full range — informal arrangements, restructuring, formal insolvency where relevant — not just one route. If you are only offered one answer, seek a second opinion.
What happens next, and what will it cost?
Understand the process, the timescale, and any costs before you commit to anything. Clarity up front prevents nasty surprises later.
Free, independent help is available — Business Debtline gives free, confidential debt advice to small businesses and the self-employed at businessdebtline.org or on 0800 197 6026.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: Free debt advice services for UK company directors, Where to get free business debt advice, When to bring in a professional adviser.