Capify Business Debts - Best Companies

Capify offers business finance to limited companies in the United Kingdom.

Many businesses are struggling to repay bounceback loans or cannot pay CBILs loans as they try to survive the covid pandemic.

Are you a company director that is being chased from Capify for outstanding business finances?

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It is very important to understand that Capify business loans have personal guarantees attached.

So just ignoring the debts could cause issues for the business closure and also personal debts.

In our Capify Business Debts guide, we explain everything you need to know about repayments to Capify and if these debts can be legally written.

Table of Content

1 Who Are Capify?
2 Capify Personal Guarantee
3 Struggling To Pay Capify Business Loans
4 Capify Debt Help Solutions
5 Can Capify Debts be Written Off?
6 Getting Advice on Capify Business Debts
7 Struggling To Pay Business Debts

Who Are Capify?

Capify was founded in 2008, at a time when many small and medium-sized enterprises were struggling to cope with the global financial crisis. They say it is unfair that many great UK businesses have been and continue to be unable to develop owing to a lack of capital.

Capify has over 20 years of experience providing corporate finance across the globe, with locations in the United States and Canada.

For almost a decade, the company has operated in the UK and Australia. Both offices were founded in 2008, at the height of the financial crisis. We’ve been there for businesses in both good and terrible times over the years.

Capify is situated in Altrincham, just outside Manchester, but they work with businesses from all across the United Kingdom, including Northern Ireland, Scotland, and Wales.

Capify Personal Guarantee

Capify only ever secures ‘secured business loans’ against residential property owned by the business owners or guarantors. Personal guarantees from the company’s major shareholders are also required for this form of borrowing.

The property that is included as a security deposit must meet the following criteria:

Registered in the United Kingdom of Great Britain and Northern Ireland
The guarantor’s residential location or a buy-to-let portfolio that the guarantor owns

A personal guarantee is a legal commitment that the business owner or shareholder (known as the guarantor) will return the debt if the company is unable to do so.

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Struggling To Pay Capify Business Loans

In the event that you are unable to repay a business loan, the lender may pursue legal action to recover the loan’s value, as well as any outstanding interest, fees, and costs.

This time-consuming and costly process can be devastating to a company, and in certain situations, it may require filing for bankruptcy.

If you being chased by Capify and are struggling to pay your existing business loan, please speak to a licensed business debt professional today to discuss this.

Capify Debt Help Solutions

If your business is in debt it may be worth considering one of the following options:

Tackle Your debts head on.
Come to an agreement with your creditors.
Seek expert guidance.
Improve cash flow where possible.
Look for ways to raise additional funds.
Find an insolvency practitioner (if you need one).

You do not have to deal with this alone. Take a look at our list of best insolvency practitioners in the UK along with in depth reviews.

Can Capify Debts be Written Off?

If you are unable to make any payments towards your Capify debts, you may be able to get these written off. For example: If you’re permanently disabled or have a fatal illness, creditors can sometimes clear your debt.

Some creditors may consent to wiping off your debt if the following conditions are met:

They know they’re unlikely to receive payments from you because they can see you have no assets that can be used to settle the debt.
You can produce proof that it’s not worthwhile or fair for them to pursue the debt any longer.

Creditors are only likely to agree to forgive debts in extreme circumstances. They’ll almost certainly demand proof, such as medical records, before agreeing to this option.

Getting Advice on Capify Business Debts

If you are worried about Capify business debt issues around personal guarantees as a company director it is very important you seek professional debt advice.

Throughout the United Kingdom, there are many corporate financial advisors and insolvency specialists who offer free advice and support to business directors during difficult moments.

A Capify personal guarantee debt can become a source of real worry when a company’s financial position is such that creditors are calling in their debts and assets are being seized. For directors, having personal finances and assets become part of the corporate insolvency picture can be a nightmare scenario.

Get in touch today to speak directly to an insolvency and business rescue specialist. Offering free and independent advice, by phone or at your place of work or one of our UK offices could be one of the most valuable decisions you make.

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Struggling To Pay Business Debts

Here are some other business debt guides if you are struggling with different types of debts: