Our agents are on hand to speak to you 7 days a week.
GET IN TOUCH WITH US NOW!     01425 600129 | enquiries@bankruptcy.co.uk

OUR TEAM ARE AVAILABLE NOW TO HELP WITH COMPLEX INSOLVENCY ISSUES

 

I’m going personally bankrupt. Do I definitely have to go to court or can a company do this for me?

No you don’t have to go to court. As from 6th April 2016 the courts are no longer processing bankruptcy applications, everything is submitted online. There is now one universal fee of £680 per person for bankruptcy and no more fee remissions for low earners, those on benefits or pensioners, and it is paid at the same time you submit the online application to the Insolvency Service.

Bankruptcy UK offers bankruptcy help across the board and will submit your application online. Court appearances for bankruptcy are no longer required. Feel free to call us on 01425 600129 for a chat about your circumstances.

A statutory demand is a prelude to bankruptcy – a distinct shot across the bows warning you that bankruptcy will follow if you take no action. Some companies use this to ‘shake up’ people, but statutory demands from banks and (particularly) HMRC should be taken seriously.

You have 21 days to respond to a statutory demand, but if  you disagree with the terms you should contact the petitioning creditor immediately (or his agent) to see if can you reach an agreement. It might be that there was an oversight on your part and that you can pay the demand. If not, you will need to make a solid case or the bankruptcy might proceed.

If you do not want to be made bankrupt you could apply for an adjournement which could give you time to raise the required funds to discharge the debt. Be warned though, if you allow the bankruptcy to proceed by indecision, you will lose control of any assets and might find yourself paying an Income Payments Agreement for three years.

Bankruptcy UK offers bankruptcy help across the board and will submit your application online. Court appearances for bankruptcy are no longer required. Feel free to call us on 01425 600129 for a chat about your circumstances.

As a business owner is there an informal business debt management plan that I can enter into in order to contain my business debt so that I can continue to trade? I have a positive business but have been subject to staff theft and I now have debts that I need to clear up. I need some type of arrangement for 3-6 months so that I can get my affairs in order. Can you help?

Ordinarily Debt Management Companies do not offer such plans. They will suggest an IVA or a CVA (company voluntary Arrangement). The latter might sound attractive, but it’s a long term plan and we don’t think it’s suitable. All considered, it might be best if you approached your bank for some type of credit facility. The upfront cash would settle the outstanding debts and a bank will be flexible re repayment.

We would be pleased to speak to you to establish the facts and see if we can mediate an informal arrangement, but it is often the case that companies want a formal arrangement in place.

Bankruptcy UK offers bankruptcy help across the board and will submit your application online. Court appearances for bankruptcy are no longer required. Feel free to call us on 01425 600129 for a chat about your circumstances.

I am a retail distribution company looking to go into liquidation. I have a siginificant amount of stock to sell and will be doing a closing down sale over the next 3 months. Can you reccommend a good selling agent for electrical products. We have 6 outlests within 60 miles of  Dorchester. I have been trying to sell the freehold commercial units for about 12 months and have lost 3 slaes. Can you reccommend a good commercial lawyer and agent that may be able to help.

Thankyou for your enquiry. I will email you my contact details and arrange a meeting as I feel sure that we will be able to assist. We specilise in Buisness Turnaround and Recovery and have worked successfully with our chosen contacts throughout the last 15 years and if there is a way of getting to the bottom of why these sales have fallen through then we will find it.  We are in touch with buyers for all sorts of different products as well as providing in house administrative functions where our trained turnaround specialists will take control of the management decisions in the company or business and steer it to a more favourable position.

You can call our buisness help line on 01425 600129 for a telephone consultation

Not if the debts are associated with a limited company, as this is a separate legal entity and a Director is not personally responsible for those debts. However, it is often the case that banks ask Directors to sign personal guarantees in which case the Director would be personally liable in the event of default, and this would definitely affect his / her credit rating.
Business debts associated with a sole trader / Self employed are directly accountable for the individual concerned and would directly affect personal credit ratings. Call us for a chat if you need help – we have plenty of experience in this field.

Bankruptcy UK offers bankruptcy help across the board and will submit your application online. Court appearances for bankruptcy are no longer required. Feel free to call us on 01425 600129 for a chat about your circumstances.

 

 

Bankruptcy UK-Debt Solution Bankruptcy Experts

Bankruptcy UK-Debt Solution Bankruptcy Experts