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Wales Archives - Bankruptcy UK



Self Employed IVA

Self Employed IVA

IVAs were created in 1986 specifically for small business owners with cash flow difficulties. The first year that IVA’s were introduced there were only 11 in total that were sold. Now there are around 250,000 people in England and Wales who have signed up to the IVA Arrangement.

A Self Employed Person who is considering an IVA as a debt solution must face true and sometimes challenging facts about the business they operate. You have to be honest about the position you are in and whether or not there is realistically an opportunity to trade your way out of debt with your business.

In order for Self Employes IVA’s to work the business owner will have to produce a business plan in order that creditors can see for themselves that the business has a good prospect of completing the arrangement.

Although it may be the last thing that you want to do, it is often a very good way of identifying the weaknesses in your business.  is to provide you with the information you need to make an informed decision.

Our objective is to identify on your first call with us exactly what is going on and attempt to identify what and when its gone wrong. Our priority is to make sure you understand what is involved in the process and what

bankruptcy-solicitorsteps are needed to make certain things happen that need to happen.  It may be that you are married or in a relationship where the family unit is at risk of losing the home or assets that would be uncomfortable to lose. The facts are that all sorts of people get into all sorts of financial complications and simply cant see the wood for the trees. It is not uncommon for people to feel totally depressed and not want to face the world because they simply cannot see what they can do to make a difference. They feel like giving up.

This is natural but if you are in that position or moving towards that position then we want to hear from you. Our experience in Business and financial survival is all about making mostly small adjustments that make a significant difference.

If we need to write or contact a particular creditor to release the pressure or get you more time then we will do this without delay.

If you have time then you can make more relaxed decisions and communicate effectively with the people around you that need it. You have to be able to adapt and work quickly to action what needs to be done.

Bankruptcy UK offers a full bankruptcy administration service, including dealing with creditors, completing the all important Income and Expenditure, professional completion of the relevant paperwork and bankruptcy help at all levels. Call us on 01425 600129 or 0800 5977 977 for a chat about your circumstances.



I checked the London Gazette for the date of my bankruptcy but nothing has appeared .. has my case has been overlooked?

No it has not, it will definitely appear in due course. All bankruptcies that take place in England and Wales have to be recorded in the London Gazette. Occasionally records are batched before posting and this is the likely reason for the delay. Just for the record – if you’ll forgive the pun – the London Gazette is one of the official journals of record of the British Government in which certain statutory notices are required to be published. It is the oldest continuously published newspaper in the UK, having first been published on 7th November 1665 as The Oxford Gazette

Bankruptcy UK offers a full bankruptcy administration service and will submit your bankruptcy application online. Court appearances are no longer required for bankruptcy. Call us for bankruptcy help on 01425 600129 or for an informal chat about your circumstances.

Will a bankruptcy in the UK be valid in Norway?

If you were to declare bankruptcy in England or Wales with Norwegian debt, it will not be recognised in that country as there are no cross border agreements in place. Provided you remained in England or Wales after the bankruptcy, your Norwegian creditors would not be able to pursue you. However, if you were to return to Norway, they might choose to recover the debt as it still exists in their eyes.

Bankruptcy UK offers assistance at all levels and will also prepare and submit your bankruptcy application online. Court appearances for bankruptcy are no longer required. Feel free to call us for bankruptcy help on 01425 600129 for a chat about your circumstances.

Property in Ireland and now going bankrupt …

I have a property in Ireland in negative equity. Would bankruptcy be an option? What are the consequences?

Properties in negative equity are not lost in bankruptcy provided mortgage payments are maintained. The Trustee / Official Receiver registers his interest in the property on the Land Registry, then reviews the position 27 months later. On the other hand, Irish properties are often in serious negative equity and you might want to simply surrender the property and include the shortfall in the bankruptcy.

Please note that the insolvency laws in Northern Ireland and the Republic of Ireland are very different. In Northern Ireland, the laws are almost identical to those in England and Wales i.e. 12 months in bankruptcy, but in the Republic of Ireland bankruptcy lasts for 3 years. For this reason, people considering bankruptcy in the Republic of Ireland often choose to relocate north of the border or to England / Wales.

Provided it is clear that this is a permanent move and that the ‘Centre of Main Interests (COMI)’ is now in the chosen area, it would be possible to proceed using the more lenient insolvency laws. We have helped countless people from the Republic of Ireland over the years, so give us a call and we’ll talk you through it. We weren’t clear as to whether you had already relocated or were simply considering it.

Bankruptcy UK specialises in taking people through the bankruptcy process in a straightforward manner. We will assess your circumstances then submit the bankruptcy application online. Court appearances are no longer required for bankruptcy. Call us for a chat about your circumstances on 01425 600129.

What happens to my pension in bankruptcy?

I am still paying towards a pension. Can they take the money from my pension fund if I go bankrupt?

HMRC approved pensions are ringposted in bankruptcy and cannot be touched. This applies for pensions taken out in England and Wales, but not for those who have pensions in the Republic of Ireland and a number of the other EU member states.

There was legislation being considered at one point that might have obliged those in their early to mid 50s to hand over part of their pensions at age 55, but this was rejected by the Lords.

Feel free to call us on 01425 600129 with any other questions or for bankruptcy help. Questions may also be posted on our Home Page. Court appearances are no longer required for bankruptcy as everything is processed online.

Can I be made bankrupt without realising it?

I have been living abroad and think I might have been made bankrupt in my absence – how can I find out?

Yes, this is possible. If the Official Receiver’s Office cannot find you, it will place a restriction against your name which will render you bankrupt indefinitely until such time as you get in touch with them and provide them with the information they need to process the case. If you google ‘Insolvency Register’, search by ‘all offices in England and Wales’ and enter your name, you will soon know if this is the case.

Feel free to call us with any further questions or for bankruptcy help on 01425 600129 or 07479 739139 / 07894 481175.

What does it cost to go bankrupt?

As from 6th April 2016 there is one universal fee of £680 per person which is paid at the same time you submit your application online to the Insolvency Service. Although this fee is lower than the original £705, there are no more fee remissions for low earners, pensioners, those on benefits, etc. The courts are no longer processing bankruptcy applications.

Feel free to call us with any further questions or for bankruptcy help on 01425 600129 or 07479 739139 / 07894 481175.


Company Director Disqualification – Bankruptcy.co.uk

Company Director Disqualification is handled and managed generally by the Defendant Liaison centre of the Insolvency Service based in Birmingham. This is because a file has been handed to the liaison unit as a result of a Company Investigations Branch Investigation which shows that it is in the public interest for the disqualification procedure to take effect.

Our experience and research tells us that a majority of the cases are because the directors of those companies have been reckless and 99.9% of all director disqualification proceedings are because the company has been trading seriously insolvently. What you as directors have to understand that the bar is set so high in respect to running a company that most companies fail in their duties somewhere along the line.  If someone places a magnifying glass over a companies trading then it stands to reason that there is going to be fault with it.  As warren Buffet said ‘ The view from the front window is entirely different to the view from the rear.

Company Director Disqualification

The process usually consists of an oppressive strike from the insolvency service against the directors of the limited company for Company Director Disqualification. If you feel that the action taken against you is wrong and that you have a justifiable reason for your actions and you want to avoid Company Director Disqualification then you need to stand firm and take your time to deal with the matters in hand. In England and Wales a director can represent the company in the courts.

Company Director Disqualification Scotland

In Scotland you cannot  represent the company as a director   in the Court Of session.

Scotland is different and runs on a 15th Century ruling disallowing any ordinary man from being able to represent themselves in the Court of session when facing company directors disqualification.

Despite a lot of changes over the last 500 years such as surnames an industrial revolution education communication and electronic communication it appears that the Inner House are reluctant to change a policy which allows solicitors and barristers to profit from all directors wanting to defend such actions. However in a company director disqualification application you can defend yourself although the secretary Of State may offer considerable degrees of resistance.

To talk in person with an experienced advocate then call 01425 600129 for all Company Directors Disqualification matters

Who can apply for a debt relief order?

Your authorized adviser will check your details to see if you meet the conditions to apply for a DRO. These are:

  • you have qualifying debts of £15,000 or less (see below for what counts as a qualifying debt)
  • you have £50 or less a month of spare income after paying all your normal household bills
  • you own things of value or savings worth £300 or less
  • your motor vehicle, if you own one, is worth £1,000 or less (unless you have a physical disability and it has been specially adapted)
  • you have lived, had a property or carried on a business in England or Wales in the last three years.



Bankruptcy UK

Bankruptcy UK