Bankruptcy

No one wants to be made bankrupt, but sometimes it is the most appropriate option in order to clear you of overwhelming debts.

In simple terms, becoming bankrupt frees you from debts so that you can make a fresh start by ensuring that your assets are shared out among creditors. Before recommending the bankruptcy route, we will have considered all other options.

Often, on hearing the details of your debt case, our experts will advise you to opt for an Individual Voluntary Arrangement (IVA). There are many positive reasons for opting for an IVA over bankruptcy. The implications of bankruptcy are more severe than an IVA.

The Courts are responsible for making a bankruptcy order against an individual. You lose control of your assets and any business will normally be closed and employees dismissed.

More information on debt management programmes