PERSONAL INSOLVENCY AND BANKRUPTCY
We advise both trustees in bankruptcy and individuals on all debt related and other issues in a bankruptcy. Acting for both trustees in bankruptcy and individuals allows us to diligently advice individuals when they may be insolvent or heading towards bankruptcy and the options available to them. We also advise both trustees in bankruptcy and individuals on all personal insolvency issues such as antecedent transactions.
Acting for both individuals and trustees in bankruptcy allows us to diligently advice individuals when they may be insolvent or heading towards bankruptcy and the options available to them. We appreciate that the first point of concern for an individual heading toward insolvency may be their main residential home. We advise about negative equity and we seek to review every possible option available and how best to minimise ones liability.
INDIVIDUAL VOLUNTARY ARRANGEMENT
This is an arrangement where an individual agrees with his creditors to repay the debt over a period of time to avoid being made bankrupt. Generally, there is a requirement that majority of the creditors usually being 75% or more should vote in favour of any offer put forward by the individual. Once the approval is given by the creditors, this will then bind all the creditors including those who may have not voted in favour of the offer and creditors that did not participate in the voting. We also advise creditors on any challenges to an individual voluntary arrangement in particular because we also act for supervisors of individual voluntary arrangement in advising them on interpretation of the terms of the arrangement.
Contact Us to arrange a consultation with an experienced personal insolvency and bankruptcy solicitor.