Alternatives to Bankruptcy...
Below are our articles on the subject of Alternatives to Bankruptcy. If you can't see what you are looking for our other categories are displayed on the left under 'Our Quick Links'...
A Summary of the Impacts of Bankruptcy
The impacts and effects of bankruptcy are far reaching. Bankruptcy can affect your business, your bank accounts, and your ability to secure credit....
Administration Orders
If you are being pursued for debts which amount to less than £5000 and you have CCJs, an Administration order could be the solution....
Administrator Investigations
Administrator investigations are carried out when a company gets into financial trouble and can’t pull itself back out - so how does the whole process work?...
Administrator Powers
An administrator is put in control of failing companies with the aim of saving that business in order to ensure that the secured creditors are paid. This is not always possible and the assets have to ...
Advantages of Payment Protection Insurance
Payment protection insurance - its potential benefits and drawbacks....
Bankrupt But Due to Inherit: Who Owns the Property?
Bankruptcy can impact negatively on inheritance - you could lose the money unless it is protected by a trust arrangement....
Bankruptcy and Your Student Loan
Students and graduates are now required to pay back their student loan, regardless of any bankruptcy proceedings....
Bankruptcy Discharge
After a period of twelve months, you will be discharged from your bankruptcy whether you have paid back a penny or not. Find out about discharge proceedure here....
Bankruptcy Explained
The basics of going bankrupt explained in easy to understand terms. Read this first to make sure bankruptcy is the right choice for you....
Bankruptcy for Company Directors
Undischarged bankrupts are prevented from carrying on as company directors. Bankruptcy has significant implications for current or potential company directors....
Bankruptcy Law and You
Bankruptcy law has undergone some major changes over the past few years making it easier to be free of debt in a short space of time. Find out the major changes of the law and how it affects you here....
Bankruptcy or IVA: What's the Best Way to Go Bust?
People who are in financial difficulties still have some options to help them deal with their problems, the main ones being either to go bankrupt or to take out an individual voluntary arrangement (IV...
Bankruptcy Restriction Orders
Failure to adhere to your bankruptcy restrictions order can have some serious consequences. Make sure that you adhere to your bankuptcy to the letter, if you fail to make payments or it is proved to b...
Bankruptcy Statement of Affairs
A Statement of Affairs must be filled in correctly and submitted to the court before they can consider you for bankruptcy. Read about what the doument contains and how to prepare it here....
Bankruptcy Statistics
The statistics show that people declaring bankruptcy is on the up, but how reliable are the figures? Experts suggest that there is a high probability that the figure is actually a lot higher as applic...
Bankruptcy Statutory Demand and Compliance
The demand is signed by the creditor to whom you owe the money, or someone acting on their behalf. It will contain all the details of your debt, such as the amount owed, the reason why and the date th...
Bankruptcy Top Questions
Dealing with bankruptcy can be confusing. Here you will find the answers to the most frequently asked questions about going bankrupt....
Bought or Rented Home and Bankruptcy
If you are made bankrupt, you may lose your home, whether you own or rent it. Here are the options available to you....
Buying Back your Business After Going into Liquidation
A look at why it might be possible to buy back parts of your firm once you have gone into liquidation....
Changes to Bankruptcy Rules: Pay to Declare Bankruptcy?
Recent changes to bankruptcy rules could reduce disposable incomes, making life harder for bankrupt people living on low incomes....
Common Bankruptcy Terms Explained
Some terms used in bankruptcy can be very confusing. Here you will find explanations of the most common terms used in bankruptcy proceedings....
Compulsory Liquidation
Liquidation is a complex process that needs careful consideration. Legal advice should be taken before opting for liquidation. There are alternatives to liquidation that should be fully explored....
Coping With Bankruptcy: Case Study
With personal debt at extreme levels, voluntary bankruptcies are on the increase. Here's Andrew's story of how he coped with bankruptcy....
Creditor Meetings
What is a creditors meeting and what can you expect when you attend?...
Cutting Debts with the Snowball Method
A look at the snowball method of debt management, and how it can help those with a number of debts with recurring payments....
Debt Consolidation: What is it and How Can it Help Me?
Debt consolidation can be an effective way of managing your debt, but there are significant drawbacks including the risk of losing your home....
Debt Relief Orders: Helping to Reduce Bankruptcies?
For those people on a low income, bankruptcy may be too costly. A Debt Relief Order could provide a suitable low cost alternative....
Declaring Bankruptcy: What do I do?
Petitioning for bankruptcy can be a difficult process, but it is further complicated if you are currently living outside the UK....
Dismissal From Bankruptcy
How the bankruptcy dismissal process works and when dismissal can take place....
Effects of a Bankruptcy Discharge
You might be forgiven for thinking that being discharged from bankruptcy meant that you were free to get on with your life, go ahead and get more credit to start again. Nothing could be further from ...
Ending an Insolvent Partnership
Insolvent partnerships can be wound up by either a creditor or the individual partners unless they are corporate members. Find out how and why partnerships are wound up....
Famous Bankrupts
Many international celebrities have been made bankrupt - some of them more than once. How many do you recognise?...
Finding a Solicitor
When facing bankruptcy it is imperative that you get correct legal advice in order to make sure you stand the best chance of reaching a successful conclusion....
Getting a Mortgage After Bankruptcy
If you have a history of bankruptcy, does this mean you will no longer be able to apply for a mortgage?...
Getting Help When in Financial Difficulties
Getting help at the right time is crucial if you want to avoid getting into serious financial difficulties....
Going into Receivership
What is going into receivership and what does it mean for your company?...
Guide to Avoiding Loan Sharks
If you've been tempted to borrow money from an unconventional source, read this article first. Loan sharks are preying on people looking to sort out their finances....
Guide to Bankruptcy: Bank Accounts
Once declared bankrupt your bank account will be frozen or closed. So what are the alternative banking options available to those who have been declared bankrupt?...
Headed for Bankruptcy: Top 5 Warning Signs
Here are the top 5 warning signs that you may be headed for serious financial difficulties, which ultimately could end in bankruptcy....
How Bankruptcy can Affect Your Relationships
A look at why declaring yourself bankrupt may not just affect you, but your partner as well, especially if you have joint debts....
How Bankruptcy Worked Out Well For Me: Reader's Story
When Karl came over from South Africa he landed a job paying £18,00 per annum but this wasn't enough to keep a family of 5 so Karl decided to set up his own investment business. What Karl didn't know ...
How Does Bankruptcy Affect my Pension?
Will your pension be affected if you declare yourself bankrupt and when can you start saving for a new one?...
How Liquidation Works
Liquidation happens when a company doesn't have enough cash to manage the business. Often a company might have plenty of assets but cannot liquidate them in order to free up much needed cash. Here's h...
How Long Does Bankruptcy Last?
A bankruptcy order usually only lasts for a period of one year. However, there are certain factors that cn infulence this considerably. Find out what they are....
How the Courts Deal with Bankruptcy
You can only petition a county court or the high court in London to grant a bankruptcy order. Find out more about how to find a court and what to expect when you get there....
How Winter 2010 Threatened Small Businesses
How poor weather affects small businesses and whether government intervention could help....
Huge Leap in Bankruptcy Among Women
If you thought that bankruptcy was predominantly a male trait, perhaps it is time to think again. According to recent studies, record numbers of women are struggling to keep themselves financially afl...
If I Declared Myself Bankrupt Would That Include Any CCJ'S?
Those considering bankruptcy are likely to have outstanding County Court Judgements against them. So how are CCJs treated during bankruptcy?...
Impact of VAT Increase on IVA Payments
Rising food, petrol and heating bills are causing people on tight budgets to start feeling the pinch. Those people with an individual voluntary agreement (IVA) are feeling the pinch more than most....
Insolvent Estates
Under the law you can be bankrupt even after death, so what are the implications of leaving an insolvent estate?...
Is My Partner Able to Sell My Half of Property?
A look at what can be done if your ex partner is going through bankruptcy and you have a joint mortgage....
Life After Bankruptcy: A Case Study
The words recession and negative equity bring back painful memories for many people who were forced into bankruptcy during the last recession. There is a life after bankruptcy however, as this David a...
Life as a Discharged Bankrupt
What happens when you are discharged from bankruptcy? These are the procedures you will be expected to follow to be discharged....
Liquidator Control
Liquidator control is assumed when a business goes into liquidation. The directors of the ailing company relinquish control to the liquidator who then essentially oversees the business until it winds ...
Managing Utility Debts
Utility debt is affecting more and more people. How can you manage your utility bills to make sure you don't fall behind?...
More Than 10,000 Britons Declared Bankrupt Every Month
Personal insolvencies are on the increase: now more than 10,000 people a month are being declared bankrupt or insolvent, and this figure only looks set to rise....
New Online Bankruptcy Procedures Could Spell Trouble
A new 'fast-track' method of declaring yourself insolvent could take the sting out of filing for bankruptcy for many people. But does speeding up the process bring with it a new set of problems?...
Payday Loans: Understanding the Risks
Payday loans are designed to tide people over until their next paycheque. But they come with significant risks - and a significant cost....
Payment Protection Insurance on Your Debt: Can You Claim?
Payment protection insurance (PPI) has been mis-sold to thousands of customers. If you have a PPI policy you may be able to reclaim your premiums....
Petitioning the Individual
It is perfectly legal for an individual to file for bankruptcy. It is however, also possible that your creditors file to make you bankrupt too. This is called petitioning the individual......
Powers of the Liquidator
The liquidator is a trained accountant specialising in the liquidation of insolvent companies. What actual powers does the liquidator have?...
Real Life Story of a Bankrupt Banker: A Case Study
Bankruptcy can happen to just about anyone, as this case study demonstrates. James was declared bankrupt in 2007 and as his story tells, it has been a long road back for him....
Record Numbers of Britons Declared Insolvent
Despite the UK emerging from recession, insolvency numbers are still at record levels, and expected to continue higher. So why are personal insolvencies still on the increase?...
Role of Trustees in Bankruptcy
When you are officially declared bankrupt by the courts they will appoint a trustee to take charge and ensure that everything ordered is carried out....
Step by Step: Visiting the Official Receiver's Office
You may be required to visit the Official Receiver's Office for an interview once an insolvency order has been issued. Here's what to expect and what to take with you....
Take Our Bankruptcy Questionnaire
Take our bankruptcy rating questionnaire and find out whether your personal circumstances indicate whether bankruptcy may be an option for you to consider....
Ten Important Facts About Bankruptcy
Bankruptcy should never be considered as the easy way out of debt. If you are considering petitioning for bankruptcy, here are ten important facts about bankruptcy that you should know....
Terminating an IVA Agreement
What happens if you can no longer afford the payments on your individual voluntary agreement?...
The 30 Day Breathing Space Lifeline for Borrowers
The number of complaints against debt collection agencies has risen dramatically over the last couple of years. But is 30 day breathing space legislation nough?...
The Advantages of Becoming Bankrupt
Becoming bankrupt isn't always a negative experience. There are circumstances when it can have distinct advantages. Read here to find out what they are....
The Disadvantages of Becoming Bankrupt
There are some huge disadvantages to going bankrupt but for some people the peace of mind they experience from being debt free makes them worth it. Find out what the disadvantages are....
The Hearing Explained
What to expect at your bankruptcy hearing....
The Impact of Bankruptcy on Your Future
What are the implications of becoming bankrupt and how could it affect your future?...
Tips for Negotiating With Your Creditors
Negotiating with your creditors can be an effective way to reduce your repayments and make your debt more manageable....
Top Debt Management Techniques
You can reduce your debts and ease the pain of monthly repayments using some simple debt management techniques....
Types of Creditor
The main two types of creditor are: secured and unsecured. There are significant differences between the two and secured debt is the one that could cost you the most in terms of financial and persona...
Types Of Liquidation
There are several types of liquidation; if you are thinking about going into liquidation, or are being forced into liquidation, these explanations will help you to understand the basics of each type....
What Are Individual Voluntary Agreements?
Individual Voluntary Arrangements (IVAs) are an alternative to bankruptcy, often allowing those with unsecured debt to hold onto their home....
What Bankruptcy Doesn't Cover?
Some loans are exempt from a bankruptcy order meaning you still have to make payments. Some items are not sold to cover debts and are yours to keep. Find out the answers here....
What Does a Liquidator do?
A liquidator is a fully trained accountant and a registered liquidator, either working via the court or independently. Either way it is their job to dismantle a company to its bare bones and then win...
What is Administration?
When a company faces financial difficulties and is facing bankruptcy then the official receiver will often be called in. This is called going into administration....
What is Debt Consolidation?
The process and characteristics of debt consolidation, and some of the associated advantages and disadvantages....
What is the Credit Card Shuffle?
The credit card shuffle process, and the way in which it can provide cheaper borrowing....
Where to go for an IVA
A look at where you should go for an IVA and what you will need to think about....
Why Appoint an Insolvency Practitioner?
If you are insolvent the court may choose to appoint an insolvency practitioner to deal with your case rather than grant bankruptcy. What is his role?...
Why Bankrupts Are Being Excluded by High Street Banks
For the vast majority of people in this country, having a bank account is something that is taken for granted. For those people who have to get by without the use of a bank account, everday tasks sudd...
Why Should I Declare Myself Bankrupt?
If you're heavily in debt, the first thing to remember is to seek help. There are solutions available, one of which is bankruptcy, so why should you choose this option?...
Will a Second Bankruptcy Mean More Penalties?
For some people, a second bankruptcy is the only option. However, if you are considering becoming bankrupt a second time, you should understand the implications and the effects of your previous bankru...
Your Bankruptcy Questions Answered
For some people, bankruptcy is now the only option available to them in helping them pay off their debts and become financially secure again. Yet bankruptcy is never a decision that should be taken li...
Your Rights Surrounding Bankruptcy Hearings
If you're declared bankrupt you have certain rights at the hearing and afterwards....
Your Rights Surrounding Insolvency
What are your rights when threatened with insolvency?...