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Mobile phone business contract
Gettingthere987
Posts: 11
Forumite
Hi Guys, Could you help with some advice please.
My Ltd Company is really struggling and I need to reduce my costs massively. I’ve made many people redundant, to survive, and this means that I have a mobile phone business contract of about £3k per month that I cannot pay. (I made 50 people redundant)
I don’t want to fold the business as I have HMRC debt that I’m working through paying and also some big clients that i need to keep trading for as I have some big projects starting October time that will hopefully put things back on track, but at a reduced more manageable level.
Phone contract is worrying me though . I can’t afford to pay this month, and I’m going to have to either cancel, or just not pay..
ill have a massive bill of contracts to pay for around 18 months left on 24/36 month contracts.
My Ltd Company is really struggling and I need to reduce my costs massively. I’ve made many people redundant, to survive, and this means that I have a mobile phone business contract of about £3k per month that I cannot pay. (I made 50 people redundant)
I don’t want to fold the business as I have HMRC debt that I’m working through paying and also some big clients that i need to keep trading for as I have some big projects starting October time that will hopefully put things back on track, but at a reduced more manageable level.
Phone contract is worrying me though . I can’t afford to pay this month, and I’m going to have to either cancel, or just not pay..
ill have a massive bill of contracts to pay for around 18 months left on 24/36 month contracts.
What do I do? It’ll take me about 3/4 years to pay it off month by month I reckon..
is there anyway I can negotiate, we’re probably looking at around £120k for the full contract term. I don’t want to walk away from my responsibilities, and can’t fold the business because of HMRC dept and needing to stay trading. Can anyone give me some advice? Thank you very much
is there anyway I can negotiate, we’re probably looking at around £120k for the full contract term. I don’t want to walk away from my responsibilities, and can’t fold the business because of HMRC dept and needing to stay trading. Can anyone give me some advice? Thank you very much
0
Comments
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With a business debt that size and the ongoing business for them I'd suggest that negotiation is your way forward - don't you have a dedicated account manager you can talk to?0
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No, unfortunately when I emailed her she said she inly
deals with the sales side,
I want to build the business back up again but I fear it’s going to take me a couple of years0 -
you need to speak to someone - not email1
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Yes, absolutely, I was just checking to see if she could deal with my problem. I’ll make sure I speak to someone in the correct department. I was more concerned about how aggressively they pursue this or whether they let me get back on my feet considering I can’t pay for these contracts and it may take me awhile to pay them out, a number of months or years, but thank you for your advice.0
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