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When your phone will not stop ringing, letters are piling up, and every month ends with the same sick feeling in your stomach, a bankruptcy or IVA comparison stops being a theoretical exercise. It becomes a very real question about how you get your life back. And if you are already exhausted, the worst part […]

Panic makes people do strange things with money. It also makes people put bankruptcy off for months, sometimes years, while the pressure gets worse. If you are already close to applying, knowing the top bankruptcy mistakes to avoid can save you stress, delay and costly problems later. Bankruptcy is there to give you a line […]

When you are staring at debts you cannot clear, letters you cannot face opening, and phone calls you have started dreading, the last thing you need is vague advice or another sales pitch. Fixed fee bankruptcy support is for people who have already reached the point where they need proper help to get their bankruptcy […]

If bailiffs are at your door, or you are dreading the next knock, this question is not academic. You need to know whether bankruptcy will stop bailiffs, and whether it will happen quickly enough to make a real difference. The short answer is often yes, but not always in the simple, instant way people hope […]

If your phone will not stop ringing, letters are piling up, and you are frightened that bailiffs, court action or wage deductions are about to get worse, the question becomes very simple – can bankruptcy stop creditor action? In many cases, yes, it can. For people in England and Wales, bankruptcy often creates an immediate […]

When people ask how long does bankruptcy take, they are usually not asking out of curiosity. They want to know how quickly the pressure can stop, when the forms will be done, and how long it will take before life feels manageable again. That is the real question behind it, and it matters because when […]

The interview is the part many people dread most. Not because it is usually aggressive or hostile, but because by that stage you are already worn down, embarrassed and worried that one wrong answer could cause a problem. If you are looking for bankruptcy interview preparation help, what you probably want is not jargon. You […]

The moment your bankruptcy order is made, the pressure usually changes shape. The court process or online application is over, but your mind often goes straight to the next question – what happens after bankruptcy order, and what do I need to do now? That question matters because the first few days can feel strange. […]

When tax debt starts piling up, it has a way of cutting through everything else. Letters from HMRC feel different. The pressure is sharper, the language is harsher, and many people assume tax arrears are untouchable – that bankruptcy will clear credit cards and loans, but leave HMRC chasing them anyway. That is exactly why […]

If you are lying awake worrying about tax arrears, supplier bills, bounced direct debits and calls you have stopped answering, you are probably asking the question very plainly: can self employed go bankrupt? The short answer is yes. If you are self-employed in England or Wales, bankruptcy is absolutely possible, and for some people it […]

If you are staring at debts you cannot clear and trying to work out the bankruptcy or DRO difference, you are not being awkward or slow. The two options can look similar at first glance. Both can write off debt. Both affect your credit file. Both are formal insolvency solutions in England and Wales. But […]

When you are lying awake worrying about arrears, letters, calls and how on earth you are meant to keep up, the question becomes very simple: bankruptcy or IVA which is better for me right now? Not in theory. Not on a sales script. For your income, your debts, your stress levels and what you can […]

If you are searching for voluntary bankruptcy help UK, there is a fair chance you are already past the point of generic debt advice. You may have spent months juggling cards, loans, HMRC pressure, arrears, or business debts, and you are exhausted. At this stage, most people do not need a sales pitch. They need […]

If you are searching for bankruptcy advice in England and Wales, there is a fair chance things have already gone past the point of tidy budgeting tips and stern promises to creditors. You may be juggling council tax arrears, credit cards, loans, HMRC pressure, old utility debts, or the fallout from a business that simply […]

If you are searching for help with bankruptcy application support, there is a good chance you are already past the point of general debt advice. You are probably losing sleep, dodging calls, worrying about bank accounts, rent, tax debts or whether you will fill something in wrongly and make everything worse. That feeling is common. […]

If you feel sick every time your mobile phone rings, dread opening the post, and can no longer see any realistic way of clearing your debts, you may be thinking that you need to go bankrupt. For many people, that thought comes with shame, panic and a hundred worst-case scenarios. The truth is usually less […]

If you are lying awake worrying about bailiffs, HMRC, credit cards, loans or a business collapse, you do not need more sales talk. You need to know how to apply for bankruptcy properly, what the Official Receiver will look at, and how to get it done without making a stressful situation worse. For many people, […]

The myth of limited liability for directors Incorporation is seen as a way to shield directors from personal liability, however it is not absolute. Holding Directors personally liable for company liabilities Particularly where there has been malfeasance, wrongful trading or tax issues. Directors should minimise risk of personal liability Taking professional advice, and taking out […]

Debt Relief Orders (DROs) – What You Need to Know A Debt Relief Order (DRO) is a formal insolvency solution for individuals with low income, minimal assets, and unsecured debts under £50,000. It provides legal protection from creditors for 12 months, after which qualifying debts are written off if the debtor’s financial situation hasn’t improved. […]

My latest verified review, From the very first phone call, Daniel was incredibly kind, empathetic and never once made me feel judged. His support meant the world to me during such a difficult time. Daniel’s wealth of knowledge was evident every step of the way. He guided me through the entire bankruptcy process with clarity […]

I have started to get emails through about buying Google reviews which seem to now be for sale to help boost business, I have been offered by email the chance to purchase 10 google reviews which are gradually fed into the system for the fee of $185 dollars, ironically I have had another email from […]

My blog this week is again focused on the IVA market and its poor practises selling these schemes to clients who many should have never been considered for such schemes, however adverts on Facebook advising clients of little known Government legislation allows you to substantially write off a portion of your debts some using a […]

On 19 August 2024, the latest British Home Stores (“BHS”) judgment set out how trading misfeasance claims were to be quantified. In awarding the companies £150 million against two former BHS directors, the English Court for the first time addressed how equitable compensation should be calculated for breaches by directors of what has been termed […]

Pub insolvencies hit ten year high Nearly 800 pubs entered insolvency in 2023 – the highest number in over a decade. According to data from accountancy firm Price Bailey, 769 pubs closed across the UK, which marked a 48% jump from the 518 closures recorded in 2022. Price Bailey said the final figure was likely […]

For individuals, the total number of insolvencies in November 2023 was 8,243, 21% lower than in the same month in the previous year (10,478 in November 2022). The individual insolvencies consisted of 661 bankruptcies, 3,290 debt relief orders (DROs) and 4,292 individual voluntary arrangements (IVAs). The lower number of individual insolvencies compared to November 2022 […]

HMRC’s stance When you or your company are experiencing financial difficulty, it is easy to prioritise payments to trade creditors or suppliers, on whose continued support and patience you rely. It is easier still to put payment of tax debts to the bottom of the pile. However, failing to pay sums which HMRC considers to […]

October 2023 Insolvency statistics show another decline in IVAs, are people now more aware of the fail rate of these solutions The October 23 individual insolvencies consisted of 703 bankruptcies, 3,245 debt relief orders (DROs) and 5,933 individual voluntary arrangements (IVAs). The lower number of individual insolvencies compared to October 2022 was driven by a […]

The individual insolvencies consisted of 671 bankruptcies, 2,913 debt relief orders (DROs) and 3,687 individual voluntary arrangements (IVAs). The number of registered IVAs in September 2023 was less than half the number in September 2022, likely in part because of an unusually large number of late registrations of IVAs approved in August and September. Nonetheless, […]

If a company becomes insolvent, it is crucial that its directors comply with their legal duties. Failure to do so can result in personal liability for the company’s debts as well as legal action and disqualification from being a company director or being involved in a company in the future. We look at exactly what […]

In Re Scherzade Khilji (in bankruptcy) the court provided useful guidance on when the three-year “use it or lose it” limitation period to realise a bankrupt’s primary place of residence (provided by section 283A of the Insolvency Act 1986) commences. Background This case concerns the property interests of Ms Scherzade Khilji (Ms Khilji), who was declared bankrupt […]

My Article this week follows the successful action by the Courts challenging the Mental Health Moratorium, Coming into force to relatively little fanfare in 2021, the Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020 (the Regulations) introduced two significant new avenues for relief for individual debtors. Less than two […]

I often get calls from individuals who have ignored their creditors and are suddenly facing bankruptcy proceedings, they are now in a panic asking what to do, I have found the article below which explains everything perfectly What is a Bankruptcy Petition? A bankruptcy petition, put simply, is a petition to the Court to ask […]

The Insolvency Service has recently announced their proposal to increase the cost of deposits payable on creditors’ bankruptcy and winding-up petitions which are presented on or after 1st November 2022, no word yet on Debtor petitions where deposits are at present £680 The proposal is as follows: Bankruptcy Petition deposit increasing from £990 to £1,500 […]

I had a difficult decision to make when I was thinking of bankruptcy and needed independent advice.  I called Daniel to seek some help to look at options and we decided that bankruptcy was the only route.  Daniel worked closely with me and guided me, alerting me of pitfalls and how the process works in […]

The UK’s biggest rent-to-own firm, PerfectHome, has gone into administration, affecting thousands of customers. The company lent customers money to buy household goods, which they paid off weekly with interest. This sort of deal is commonly known as buying ‘on the never-never customers would pay off items of furniture and electrical goods over many years PerfectHome […]

This week I have had two unfortunate clients knocking on my door for help. Mr JP from Nottingham has paid just on £7000 into his IVA over two years and just £300 has gone to creditors. He has no assetts, no Job that is vulnerable to Bankruptcy and has hit short time with three years […]

Shares in Amigo Loans sank more than 40 per cent last week after the embattled subprime lender reiterated it will go bust if its new rescue plan and fundraising approach are not approved. Amigo‘s previous rescue plan was rejected last year by London’s High Court for short-changing claimants, so the company increased its compensation pot […]

Tommy Robinson, founder of the English Defence League was in court last week being pursued by the many people he owes money to. This has increased scrutiny on whether he genuinely disposed of assets in his timely divorce from Jenna Lennon. Tommy filed for voluntary bankruptcy on 3 March 2021, shortly after finalising his divorce […]

The Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Act (“Act“) received royal assent on 15 December 2021. The Act extends the scope of powers available to the Insolvency Service to address the issue of directors dissolving companies to avoid paying their liabilities. The Government’s Business Secretary, Kwasi Kwarteng, has made it clear that the introduction […]

On 21 December 2021 the Government launched a consultation into the future of insolvency regulation. The changes proposed in the consultation document will have a wide ranging impact on the insolvency profession (and its insurers) with the proposals including: the direct regulation of insolvency firms, the introduction of a single regulatory body with powers to […]

Rogue directors will find themselves in the firing line if and when The Rating (COVID-19) and Directors Disqualification (Dissolved Companies) Bill, which is currently making its way through parliament, comes into force. The proposed bill will enable the investigation and potential disqualification of directors of dissolved companies, and responds in particular to concerns around COVID-related […]

Hi there This afternoon I’ve had letters from one person explaining my car is exempt from my bankruptcy and another from a different person with all the copies of the letters to my bank accounts. The letter to Santander advises that I can still use my account. I’ve tried to phone Santander myself without success. […]

After a period of significant inactivity as a result of the various temporary measures introduced during the pandemic, we are now approaching an insolvency cliff edge in the UK. Senior restructuring and insolvency lawyers from TLT’s Scottish, Northern Irish and English offices discuss: The factors that may influence when and why we might see personal […]

Suffering with mental health problems and being in financial difficulty are often strongly linked, with one frequently causing or worsening the other. The introduction of The Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020 (referred to in this article as the ‘debt respite regulations’), which, with very […]

The Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020, which will come into force on 4 May 2021, will provide individuals with the opportunity to obtain legal protection from creditors in the form of either a breathing space moratorium or a mental health crisis moratorium. Given the […]

The UK’s latest quarterly company insolvency statistics, published on 30 April, show that insolvency rates remain significantly below pre-pandemic levels, demonstrating the continued success of Government measures in preventing a COVID-19 related wave of insolvencies. The Q1 2021 data shows that the trends from Q4 2020 continue, with the overall number of registered company insolvencies in […]

Last year, temporary changes to the bankruptcy process were brought in by the Scottish Government, to help individuals financially impacted by the pandemic. Scottish ministers have now introduced the Bankruptcy (Miscellaneous amendments) (Scotland) Regulations 2021, to make some of those changes permanent. The main purpose of these measures is to improve access to minimal asset […]