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Stigma of Bankruptcy

Bankruptcy is often referred to as the option of last resort for people. When you are in financial trouble you are desperate to find a way out. Many people try to avoid being declared bankrupt and some opt for another solution even though bankruptcy may well be the best solution for them.


Can I trust my Insolvency Practitioner?

When your finances are in a bad way, the importance of getting good advice is impossible to overstate. If bankruptcy is a threat, or if you’re looking to use such measures as Individual Voluntary Arrangements, then you’ll be looking to use the services of an Insolvency Practitioner or IP.


Need Bankruptcy Advice

If your debt situation has become unmanageable to the point where bankruptcy may be possible, it’s imperative that you get solid advice. Even if you cannot meet your debt payments anymore, this does not necessarily mean that you will definitely have to go bankrupt, as there are other possible consequences that are much less serious.


Insolvency and Bankruptcy

Insolvency and Bankruptcy are essentially both terms describing the position of a person or company that is no longer able to pay their debts. Insolvency is normally used when referring to businesses, and bankruptcy vavrto individuals, however there are many times when the terms are used varyingly in both contexts.


I don’t want to go bankrupt

If you’ve found yourself simply unable to meet your outgoings and are facing bankruptcy, there may be more options than you think. You should seek the advice of a professional such as an Insolvency Practitioner to work out the best way to move forward.


IVA or Bankruptcy – Part 6

In the first five articles in this series, we looked at the possible effects of insolvency on the careers of those engaged in a variety of professions: accountants, members of the police and of the armed forces, members of the medical, dental, veterinary & pharmaceutical professions and those engaged in the practice and administration of law.


IVA or Bankruptcy – Part 5

In the fourth article in this series, we looked at the possible effects of insolvency on the careers of those engaged in the medical, dental, veterinary and pharmaceutical professions.


IVA or Bankruptcy – Part 4

In the third article in this series, we looked at the possible effects of insolvency on the careers of members of the Armed Forces and of the Police.


IVA or Bankruptcy – Part 3

In the second article in this series, we looked at the effects of insolvency on the careers of people working in the financial sector and particularly accountants.


IVA or Bankruptcy – Part 2

In the first article in this series, we looked at the general effects of insolvency on the career of a professional.


IVA or Bankruptcy – Part 1

This is the first in a series of articles which will look at the effects on the career of a professional who becomes insolvent. It will compare the effects of two of the principal remedies available to such a professional i.e. Bankruptcy and Individual Voluntary Arrangement.  


Bankruptcy – The Big Con

id you know that in the UK Bankruptcy is cheap? Well, perhaps it is not exactly cheap if you are struggling to makes ends meet and you are unable to pay your bills.


IVA & Bankruptcy Stats since 2009

Back at the end of 2009 we noticed a significant swing away from bankruptcies and towards IVAs. It is interesting to look at what has been happening since then and particularly whether that trend has been sustained. The short answer is that it has and the numbers of individuals choosing bankruptcy has plummeted in the last four years.


Forced into Bankruptcy

When customers get into financial trouble, what do creditors want them to do? The credit business is simply that – a business. Creditors want their customers to adhere to the terms of their credit contract.


Buy to Let & IVA or Bankruptcy

During the property boom which preceded the recession many people began to dip their toes in the property market in the hope and expectation that increasing equity over a period of years would provide them with a reasonable or better return on their investments.


Debt Solutions Compared

Different Debt Solutions and How they work

The contrast between Bankruptcy and a Debt Management Plan is startling in terms of what creditors can expect to receive from borrowers who encounter financial difficulties.


IVA or Bankruptcy

In the world of personal insolvency, this is the key question facing the insolvent debtor. When both options are clearly spelt out, there is often a clear answer – but not always.


IVA or Bankruptcy & Car HP

HP and Bankruptcy

Let’s take Bankruptcy first. If you have a car on HP, the decision as to whether you will lose it in Bankruptcy will be made by the Official Receiver and the finance company once the bankruptcy order has been made.


Annulment of Bankruptcy

In the world of personal insolvency the annulment procedure applies to bankruptcy only. Only the court has the power to order the annulment or cancellation of a bankruptcy order that has already been made.


Official Receiver in Bankruptcy

Dealing with the Official Receiver in Bankruptcy

The Official Receiver is a civil servant in The Insolvency Service and is an officer of the court and acts as the bankrupt’s trustee unless the court appoints an Insolvency Practitioner (IP) to take that role. Once a Bankruptcy Order is made against you, the court notifies the Official Receiver who immediately takes over the responsibility for administering your bankruptcy including the tasks of protecting your assets and investigating the causes of your bankruptcy.


Contact Us

Fees and key info

We are happy to provide you with debt advice only. We only charge a fee if you opt for one of our debt solutions. Fees will depend on which debt solution we provide and what your personal circumstances are. All fees will be discussed prior to commencement of any service or debt repayment plan. Click here to read our fees and key info. Please note: From time to time we may refer you to other services providers or charities such as the CAB.


If you’d like more information on other sources of free debt help and advice you can visit MoneyHelper – an organisation, backed by government and set up to offer free and impartial advice to those in debt. - Click here to visit MoneyHelper