A personal insolvency process is required when financial difficulties and debts become too much to handle. The purpose of an insolvency process is to form a settlement between the individual and the creditors to assess the remaining debts outstanding. An increase in bankruptcy A previous report from the Guardian highlighted how UK insolvencies had hit
Whether you’re a company or an individual, insolvency ultimately leads to an individual voluntary arrangement, company voluntary arrangement, or bankruptcy. Any such end point will protect those in trouble from their creditors, and may result in the creditors losing some of the money they are owed. For those who have genuinely hit hard times, these
Bankruptcy is often the last resort for those in financial difficulty, but it’s never a good place to be. The good news is there are lots of things you can do to reduce the risk of going bankrupt. Whether you’re beginning to struggle financially or simply want more money to play with, here are five