Areas of Law / Bankruptcy Debt

It is a fact of modern life that many people face  bankruptcy and debt problems. Financial difficulties can arise due to a number of reasons, not all of which are under your control.

We are now in an age where debt and financial issues are becoming an accepted norm for people. With property prices and rents at an all time high, and credit freely available, more and more people are finding that they are unable to meet financial commitments and struggle to repay their debts.

Failure to manage your finances can have serious consequences that may follow you throughout your life. Debt problems can quickly spiral out of control and ignoring creditors and debts will only make the situation worse, so it is important to seek legal advice as soon as possible.

Whatever stage you find yourself at, whether you are only just starting to miss monthly repayments, or are being threatened with court action; addressing debt at the earliest possible opportunity is crucial for those who wish to move forward with their lives and attain the lifestyle and home they aspire to.

Bankruptcy and insolvency specialists can hep with

  • Bankruptcy
  • Debt Management
  • Financial Crisis Management
  • Individual Voluntary Arrangements (IVA) 

Review our free legal advice questions to get the answer to your bankruptcy or debt question and get piece of mind that you’re not alone, help is at hand to get you back on your feet financially.

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Bankruptcy Debt Questions

My elderly parents have recently made a will, but I’ve been told by friends that I am unlikely to see any of their money because of debts hanging over me, such as a mortgage repossession, loan arrears and credit card debts. They say these organisations would grab their chunk first, and there’d be nothing left for me. Is this correct?

We recently bought a house and are now receiving huge amounts of mail from banks, credit companies etc addressed to a previous tenant here who appears to have been hugely in debt. We have no forwarding address and are concerned that bailiffs may arrive in an attempt to recover assets. I have posted some mail “return to sender” but is there anything else that can be done?

My husband is in business and constantly has cashflow problems, with the result that we are always struggling to pay the bills. We have a house in joint names. If he were to die, what would happen to all the debts outstanding from the business?

I’m being chased by a debt collection agency for debts that are nothing to do with me. They keep ringing me and making threats, but they won’t take me to court so I can prove it. Any advice?

The bank has repossessed my house, but I will still owe them money when they’ve sold it. I also have credit card and personal loan debts. Friends have suggested that I declare myself bankrupt, but is it a good option?

My business is struggling under the weight of bank loans and my personal debts are also mounting. I have worked out that if I sell everything I will still be £45,000 in the red, so I’ve been considering bankruptcy. How will this affect my chances of making a fresh start?

A few years ago my husband was taken seriously ill and had to give up his job. We have sunk deeper and deeper into debt, and now owe more than £50,000 on credit cards with no chance of paying them off. Would our creditors make us bankrupt if we tell them the situation?

One month before going into liquidation a director of a limited company formed another limited company and is now working there. Is that legal?

I separated from my husband a year ago but we are not divorced. We have joint debts of £40,000 and in addition he owes an enormous amount of money for which I have no responsibility. My husband intends to declare himself bankrupt, but I would prefer to avoid this myself if possible. If he goes it alone would I then be responsible for the full £40,000 we jointly owe?

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