Bankruptcy is a frightening prospect with lasting implications so it’s no wonder that you may be reluctant to consider it as an option if you’re struggling to pay debts. If your circumstances allow, a Debt Relief Order may prove to be a...
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An alternative to Bankruptcy, an Individual Voluntary Arrangement (IVA) is a formal and legally binding agreement between you (as a debtor) and your unsecured creditors (people you owe money to) in which you agree to pay back all or part of your...
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Everyone dreads being unable to pay bills but for an unlucky few debt problems can become a life-consuming reality in which bankruptcy may be the best (or only) route out. Bankruptcy is a legal status that, in certain circumstances, may provide the...
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Leading UK business groups and insolvency experts yesterday advised the Government to reconsider its plans to prioritise repayments to HMRC over repayments to other creditors in insolvencies from 6 April 2020. In a joint statement distributed...
Read more...If the official receiver considers that a bankrupt has acted dishonestly, or is blameworthy in some other way i.e. excessive gambling, they will report the facts to court and ask it to make a BRO. The court will consider this report and any other...
Read more...A Bankruptcy Order is made by the Court either on the application of a creditor who is owed over £750 or a debtor personally. The process of requesting the Court to make someone bankrupt is referred to as petitioning the Court for a Bankruptcy...
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