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In the event of imminent or existing debt, you need to act quickly and openly and never ignore the problem. If you are struggling to meet any of your financial obligations, be it rent, utility bills, business rates or other, it is always advisable to let your creditors know and keep them informed about your situation. This can help minimise the risk of legal action taken against you and prevent debt from mounting.

From the legal point of view, the way your business debt will be treated depends on the legal status of your business. Sole Traders for instance will be liable for their business debts in the same way as their personal debts, while partnerships and limited companies will face different legal situations.

The organisations listed below may be able to help you when facing financial difficulties.

National agencies

Business Debtline

Business Debtline is a national charity offering free, confidential, impartial, self-help advice over the telephone to self-employed people and small businesses. Advice can be given on options to deal with business and personal debts including business rates and council tax.

Business Debtline website contains straight forward fact sheets on a variety of debt-related topics, sample letters that can be sent to creditors, advice of ways to increase your income when in debt, as a set of golden rules to follow, and more.

Telephone: 0800 197 6026. Lines open 9am to 5.30pm Monday to Friday

GOV.UK guide to dealing with debt

The government provides step-by-step guides to dealing with personal debts, as well as a list of national organisations offering free, impartial advice.


Local advice

Citizens Advice Richmond

Citizens Advice Richmond is an independent charity working with other organisations to and provide free, confidential and impartial advice to everybody regardless of race, sex, disability or sexuality. Services cover advice on dealing with debt and financial problems.

Citizens Advice Richmond public information site offers debt advice online to anyone.
For people who live, work or care for someone in the borough, Citizens Advice Richmond offers an email advice service and a telephone advice line, where you can speak to someone between 10am and 3pm Monday to Thursday.

Citizens Advice Richmond offer drop-in advice sessions at offices in Hampton Hill, Hampton, Ham, North Barnes and Sheen. View addresses and opening hours.

Telephone: 0808 278 7873

Website: Citizens Advice Richmond  

More information

More information about local and national help dealing with debt and managing personal finances can be found on the Debt and money advice page.

Updated: 25 February 2021

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