IT Contractor
A freelance IT consultant operating through a limited company found himself unable to service a Bounce Back Loan and growing VAT arrears after a key client relationship ended abruptly. Concerns about personal liability were causing significant anxiety.
Location
Greater Manchester
Debts
£41,000
Creditors
VAT Debt & Bounce Back Loan
Duration
8 Weeks
Stock Images Used
Our client says...
I’d taken a Bounce Back Loan during COVID to keep things afloat, then the contracts dried up.
I owed VAT I couldn’t pay, and the BBL was sitting there. Not only that, but I had no idea what my personal liability was — that unknown was genuinely terrifying.
The team at Simple Closure explained everything clearly, no jargon. By the end of the first call I understood exactly where I stood. That clarity was everything.
The process was smooth, professional, and they were always on the other end of the phone when I needed reassurance.
Outcome
CVL completed. Bounce back loan treated as company liability. Director free to contract again immediately.
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