Quick and easy ILA for debentures
Secure your interests and understand the risks with minimal hassle to you.
What is a debenture, and how does it work?
A debenture gives the lender rights over your business assets to secure the loan. It can involve:
- Fixed charges: Typically placed on tangible assets like property, equipment, or machinery. If you default, the lender can take control of these specific assets and sell them to recover the debt. You cannot sell or dispose of these assets without the lender’s consent.
- Floating charges: Cover more fluid assets like stock, inventory, or receivables, which change as your business operates. In the event of a default, the floating charge “crystallises”, allowing the lender to take control of these as well.
Before you sign, you must fully understand what you’re agreeing to
Understanding independent legal advice (ILA) for a debenture
Given the broad reach of debentures and their potential impact on your business, lenders require you to get independent legal advice (ILA) to ensure that you fully understand the terms and implications.
Before you agree to this, it’s crucial to understand how a debenture works and what you’re putting at risk. That’s where iLA step in to help.
Ila provide clear,
jargon-free
guidance
Why you need independent legal advice for a debenture
Our role is to ensure that you’re fully aware of:
The impact on your business:
We’ll explain how fixed and floating charges could affect your ability to run your business, including restrictions on selling or transferring assets.
Your liability:
Understand what happens if there’s a payment default and which of your assets are at risk.
Your options:
We’ll explore whether there are better terms you could negotiate or protective steps you can take before signing.
Protecting your interests:
We’ll advise on ways to minimise risk while securing your business's funding.
We provide the information and clarity you need to make an informed decision.
How it works
? ?
It’s quick and straightforward, so you can get all of the advice you need with minimal hassle.
1
Book your appointment
2
Get ready for your appointment
3
Get your legal advice
4
Sign and complete
Visit our process page for more detailed information.
Why Choose
?
Here’s why guarantors across the UK trust us for their ILA:
Before you sign, you must fully understand what you’re agreeing to
Here’s why clients trust us for their debenture legal advice
Specialists in complex agreements:
We focus solely on independent legal advice, which gives us the expertise you need for agreements involving fixed and floating charges.
Fast, flexible appointments:
We’re available seven days a week, so you can get advice when you need it, even on short notice.
Completely online service:
Everything from consultation to document signing is handled digitally, so you can stay focused on running your business.
Fixed, transparent pricing:
No hidden fees or unexpected costs—just clear pricing from the start.
