Archive for the ‘General Debt Articles’ Category:

The 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. It’s hard to tell just how much the perceived stigma of bankruptcy affects their decision but it does appear that younger people are less concerned than the older generation about the stigma of bankruptcy. Continue reading “The Stigma of Bankruptcy” »

Ticking the Insolvency boxes in Ireland

Back in 2009 we looked at what the prospects were at that time for new legislation which would address the then burgeoning problems of personal debt and for many people the looming threat of personal insolvency. Continue reading “Ticking the Insolvency boxes in Ireland” »

The Penalties of Debt

The contrast between the UK and Ireland in dealing with personal debt problems is quite remarkable. The most startling contrasts are perhaps the differences in the bankruptcy regimes of the two jurisdictions. Continue reading “The Penalties of Debt” »

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. Continue reading “Can I trust my Insolvency Practitioner?” »

Choosing the right Insolvency Practitioner

If you’re going down the route of bankruptcy, insolvency or are considering measures such as an IVA, you’ll need the services of an Insolvency Practitioner. IPs in the UK must be licensed to act in matters of insolvency, and the discipline is regulated by the Insolvency Practitioners’ Association. Continue reading “Choosing the right Insolvency Practitioner” »

Why do I need an Insolvency Practitioner?

If you are in the position of being unable to keep up with your financial commitments and are facing insolvency or bankruptcy, you may need to go through certain legal processes. Insolvency Practitioners are the only professionals who are licensed to carry out certain legal activities within the UK. If your case involves these processes then you will indeed need to use the services of an IP. Continue reading “Why do I need an Insolvency Practitioner?” »

What is an Insolvency Practitioner?

An IP, or an Insolvency Practitioner, is a professional who specialises in the field of Insolvency. All IPs in the UK are required to be licensed, and to conform to a set of professional standards. The practise is regulated by the Insolvency Practitioners Association, who also set out the required standards. Continue reading “What is an Insolvency Practitioner?” »

Pay off my debt in the UK

Nobody likes to be in debt and if you are to pay off your debts to your creditors the money has to come from your surplus income or from the sale of some or all of your assets or with funds provided by a friend or relation who is willing to help you (whether or not they expect you to repay them in the future) or you must find some way of getting your creditors to accept less than full repayment or from some combination of these – that is, assuming you do not win the lottery! Continue reading “Pay off my debt in the UK” »

Options for unaffordable debts

The anxiety that comes with not being able to manage your debt payments can make life seriously stressful. It can seem like the more things get out of control the fewer options you have left. However, there may be more choices left than you think, and acting promptly and with the right advice is hugely valuable. Continue reading “Options for unaffordable debts” »

Insolvency and Bankruptcy explained

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. Continue reading “Insolvency and Bankruptcy explained” »