We offer personal insolvency and personal bankruptcy advice and assistance from our specialist licensed insolvency practitioners.
Recent trends have seen a large number of personal bankruptcies in the UK and, sadly, this is true in the Nottingham area. This is largely due to the ease with which individuals have been able to obtain credit coupled with the ability to petition for your own personal bankruptcy, thereby allowing you ‘freedom’ from your debts within a year. However, bankruptcy can be more complicated than some may assume, especially when the debtor has assets.
Personal insolvency advice and assistance in Nottingham
We can provide advice and assistance to individuals concerned with personal insolvency issues in the Nottingham area. Whether acting as a Trustee in personal bankruptcy or preparing an Individual Voluntary Arrangement, our specialist experience can enable us to find a solution for you where the return to creditors can be maximised. We can also assist individuals avoid a potentially disastrous slide into bankruptcy.
Personal Insolvency and Bankruptcy services
We have experience of dealing with all kinds of personal insolvency and bankruptcy issues. Our specialist licensed insolvency practitioners can provide you with help and advice aimed, wherever possible, at avoiding formal insolvency.
Personal Bankruptcy Consultancy in Nottingham
- With specialist personal bankruptcy knowledge allied to our long standing relationships with experienced solicitors and agents within Nottingham, we will work together to minimise costs and maximise recoveries and to pay dividends to creditors as early as possible.
- We will investigate individuals who claim to have no assets and have secreted their assets elsewhere in the hope that they will not be realised
- We can assist individuals with properties where a Trustee in Bankruptcy has been appointed by the Protracted Realisations Unit (PRU) – often the problem can be resolved through negotiation – we have worked on both sides in these cases and are experienced in the best way to resolve them
Individual Voluntary Arrangements (IVA)
- An IVA allows you to pay all or part of your debts over an agreed period, so avoiding the need to enter into bankruptcy.
- IVAs avoid the stigma of bankruptcy, to preserve professional status or preserve a business
- IVAs provide a flexible approach to asset realisation and payment schedules
- Through an IVA an individual can continue to trade a business and does not face debarment from professional associations
The next step
To find out more about our personal insolvency and personal bankruptcy consultancy services, please contact one of our licensed insolvency practitioners.
The earlier a financial crisis is identified and address, the better the outcome.