Business debt help and advice in Northern Ireland

Where to get business debt advice in Northern Ireland

Guidance

There are a number of organisations that offer free debt advice in Northern Ireland. These include:

Professional advisers

Professional advisers can also provide good financial and debt management advice. An accountant or solicitor can explain your financial position and the options available to your business. If you do not already work with one, it may be a good idea to find an accountant or solicitor who specialises in your industry or financial problems.

For more information, see choose an accountant for your business and choose a solicitor for your business.

Banks

Contact your bank as early as possible if you expect difficulty making a payment. It may be able to discuss changes to your repayment or account arrangements. But you should remember that your bank has its own position to protect and its interests may not be exactly the same as yours.

Your account manager may be able to help you look at how you are managing your finances and whether this can be improved. They may also help you work out a payment plan, or you may be able to extend your overdraft or renegotiate your account terms.

If you are not happy with the service your bank is providing, it may be time to switch. You may even be able to get a better deal elsewhere. For more information, see choose and manage a business bank account.

Debt counsellors

Although most debt counsellors work with individuals with debt problems, some specialise in business debt management. Step Change Debt Charity offers free and impartial debt counselling.

There are also some commercial organisations who can offer debt counselling and management advice, for a fee. You should research and consider a debt management company's reputation fully before working with them.

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