An insolvency practitioner can provide essential support, guidance and advice when you are facing financial issues, whether as a business or an individual. However, what might not be clear, is when the right time is to contact an insolvency practitioner. It is important to understand that an insolvency practitioner is not simply a financial emergency
The recession of 2008 gave rise to a unique and unprecedented set of economic circumstances intended to ameliorate the financial turmoil and allow a path to recovery. Now, 10 years on, we are forced to contend with a number of unintended consequences. One such consequence includes the rise of anomalous economic beings like the “zombie
Learn the key differences between an IVA and bankruptcy to help make an informed decision about which option is more suitable for your circumstances. Whilst bankruptcy and Individual voluntary arrangements (IVAs) are both forms of insolvency they work very differently, each having their benefits and drawbacks. Although bankruptcy can write off your debts, it is
There are many individuals who save money, budget effectively and build themselves a significant emergency fund. However, plenty of others may not be so prepared and an unexpected event could result in financial disaster. Debt tends to have a stigma attached to it. Therefore it’s understandable that many don’t want to seek help, especially if
Many people mistakenly believe insolvency and bankruptcy to be the same thing. However, while there are similarities, they have different meanings. What Is Insolvency? Insolvency is a financial state where a company or individual is unable to pay their debts on time, while bankruptcy is the legal process when a person has been declared insolvent. An insolvency
According to The Money Charity, people in the UK owed £1.637 trillion at the end of April 2019. The Office for Budget Responsibility’s forecast is for household debt to reach £2.425 trillion in 2023-24. If you are in financial difficulties and your options seem limited, then one form of insolvency you could consider is the Debt