What should you arrange if you want to stop doing business but still have debts?
For many entrepreneurs, there comes a time when they decide to stop. Sometimes out of necessity, sometimes out of insight. But what if you want to end your sole proprietorship while there are still outstanding debts? That can feel overwhelming. The tax authorities, outstanding bills, perhaps even private obligations... it is understandable if you can no longer see the forest for the trees.
In this blog you can read what you can do if you you want to end your sole proprietorship while you have debts, what you absolutely need to arrange and how debt assistance can help you start again with a clean slate.
Why Quitting Is Sometimes the Best Choice
Entrepreneurship is valuable, educational and challenging — but also hard. Especially if you have been running at a loss for a long time, are struggling with declining turnover or are struggling with health problems, quitting can be the wisest choice.
Closing your sole proprietorship is not a failure. It is a decision. And if you do it right, with the right help, you can prevent debt from haunting you for years to come.
What you need to arrange when quitting debt
- Termination of registration with the Chamber of Commerce (KvK)
This is the official starting point. Your company is deregistered. Please note: this does not automatically stop your obligations. - Completing tax returns with the Tax Authorities
Think about your last VAT return, income tax and possible corrections. - Terminating business contracts
Such as rent, lease or phone subscriptions. Make sure you know what you are still stuck with. - Inventory of debts
Make an overview of everything that is still outstanding: taxes, suppliers, loans, arrears. - Separate personal and business finances
A sole proprietorship is not a legal entity, so creditors can also target your private property. All the more important to keep an overview. - Get professional help
So that you can resolve your debts in a planned and protected manner — even after your business has ceased operations.
Why help is essential for debts after business closure
Many entrepreneurs think: “If I stop, the debts will disappear by themselves.” But unfortunately: creditors, the tax authorities and banks continue to have a right to their money — even if your company no longer exists. This means that you as a private individual remain liable.
Professional debt assistance ensures that you can get rid of your debts in a legal and clear manner. For example, via an amicable settlement or – if necessary – a restructuring process.
What Zuidweg & Partners can do for you
We support thousands of entrepreneurs every year in the responsible termination of their business, including debt assistance. Our approach is personal, discreet and focused on sustainable solutions. What we do:
- We inventory all your debts
- We arrange agreements with creditors and the tax authorities
- We help you with the administrative settlement of your company
- We also offer guidance in the transition to employment, benefits or a fresh start.
- And we ensure that you maintain a future perspective — even when you stop
You don't have to do this alone. And it's definitely not too late.
It's not an end, but a new beginning
Stopping your business is not the end of your story. It is the start of something new, without the constant pressure of mounting debts. With peace of mind and space for new steps.
Do you recognize yourself?
Do you recognize yourself in (part of) this situation and do you no longer want to walk around with worries? We are ready to help you. Do not wait until the problems increase and take control of your financial future today. Click on the button 'Apply for debt assistance now' and take the first important step towards peace and security for you and your company.
