Personal insolvency

We’re the personal insolvency experts who help pick you up when you’re down.

No matter who you are or what you do for a living, financial problems can affect anyone. In fact, some of the most successful entrepreneurs – those who took risks on pioneering new ideas – have struggled under the weight of debt.

If you are struggling to see the light at the end of the tunnel, speak to our expert personal insolvency team about your options, they all have many years’ experience of:

  • An IVA is an alternative to bankruptcy.  It is an agreement between you and your creditors to alter the repayment of, or reschedule your debts.
  • It is a consensual process and therefore your proposed plan is put to creditors for them to consider and you will require those owed 75% of your total debt or more to be in favour, to get your plan approved.
  • The IVA will often mean that some of the debt is written off by creditors, but they will expect to get more back by agreeing to your IVA than they would in bankruptcy.
  • Bankruptcy can be initiated either by you personally or by one of your creditors.  If you are applying yourself, you can do so through an online application form via GOV.UK and there is no longer a need to apply to court.
  • A creditor can only apply for a bankruptcy order if you owe them more than £5,000 and they will have to apply to court in order to gain a bankruptcy order against you.
  • There is a wealth of information about bankruptcy online at GOV.UK.

To find out how we can help you, get in touch with our team here.

Meet the team:

Restructuring and Insolvency Partner
Restructuring and Insolvency Partner
Restructuring and Insolvency Director and Appointment Taker