Insolvency / Bankruptcy

We offer fast and comprehensive advice for both corporates and individuals, to enable you to take the most appropriate action to protect yourself and/ or your business or assets where possible.

Anyone threatening bankruptcy?

If any creditor is threatening bankruptcy or proceedings are underway it is vital to take immediate action. You should be aware of the implications of bankruptcy and the options open to you. You should also understand the procedures involved, recognise each step as it occurs, and be aware of the powers and rights you can exercise.

Considering bankruptcy?

If your level of debt is getting you down, and you cannot see a way out, you might think bankruptcy is the only solution to your problems. Before taking such a serious step, you should ask yourself three questions:-

1. What will be the effects on me, my family, my occupation and my reputation if I declare myself bankrupt?
2. What will my creditors do to me if I do NOT declare myself bankrupt?
3. What are the practical alternatives open to me?
4. How will I cope with the emotional stress of bankruptcy?

Consider bankruptcy carefully

against you will probably result in the loss of all your assets including your home. You would also lose any assets you acquire such as an inheritance or insurance claim until you are discharged. Bankruptcy can result in you being forced to stop trading, and losing your professional status. It can adversely affect your employment or future prospects. It will place stringent controls on your financial affairs and seriously harm your credit rating for years to come.

For further information, you may find the following link useful:
http://www.insolvency.gov.uk/

For further information about any of our specialist areas or to find out how we may be able to help you, please contact us on 01753 535422 or click here to make an enquiry.