Recovery is the last resort, not the first move. If it comes to it, here is the order it tends to follow — and, at every stage, engaging with us can stop it.
Contact and reminders first
Long before any formal step, we try to reach you to understand the position and agree a way forward. Most difficulties are resolved here, with an arrangement, and go no further.
Formal notices and default
If arrears build and go unaddressed despite our attempts, we may issue formal notices and, eventually, record a default against the company. This is proportionate and comes only after we have tried to reach you.
Recovery against the company
Because there is no personal guarantee, any recovery is against the company, not the director personally. Even at this stage a realistic arrangement can often halt the process — it is rarely too late to talk.
The single best way to avoid all of this is to contact us early via the contact page.
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: What recovery action can we take against the company?, What does default mean on a business loan?, Why talking to us early gives you more options.