Business Solicitors

Repaying debts?

Sometimes, even despite our best intentions, we face debts that we cannot easily repay. In most situations like these, we do our very best to continue by repaying every spare penny we can while working overtime and forgetting about holidays, entertainment or luxuries. Unfortunately, there are even times where our best efforts to repay debt are not good enough, and in these cases it is time to contact a specialist bankruptcy solicitor who can give IVA debt advice and deal with an Individual Voluntary Arrangement.

Solving your problems

A personal bankruptcy solicitor will help you through every stage of the bankruptcy process, which really isn’t as final as it sounds. Although there are significant considerations to take into account before moving ahead, bankruptcy provides someone with a debt free clean slate. A fresh start can then be made.

Individual voluntary arrangements

There has been a substantial increase in the amount of people using Individual Voluntary Arrangements in the last few years. IVAs are a formal process which can help you to avoid bankruptcy. IVAs represent a promise of a particular repayment schedule whereby you can pay back your debts at a rate that is realistic to your current situation. Creditors meet and vote to decide if they will accept the IVA or not. A 75% majority vote is required for your IVA to be accepted. Through this method, you could avoid going bankrupt even when you might otherwise have had to. However the procedure is no guarantee of success and this is why you must hire a professional to help you each step of the way.

Act soon

If you find yourself in a bad situation with a lot of debt then it is time to install an IVA now before it is too late to do so. Although it is possible to establish such an agreement after you have been made bankrupt, it is obviously not as useful that way around. If you have to do it after the fact, you can get your bankruptcy annulled via the legal courts. A specialist solicitor can guide you through applying for this. Unfortunately success is only found in the minority of cases which is why it is essential you have the best possible legal advice from the start.

Debt advice for free?

There are more questions at every turn when it comes to considering what to do when you are in considerable debt. The first thing to recognise is that you are not alone – many have been in this situation before and they have successfully moved on with their lives without major problems. For a faster and more peaceful resolution to a potential damaging problem, seek free legal advice from our network of experts today. We do not charge you for our service and we put hundreds of people like you in touch with friendly professionals every week of the year. Simply fill in the contact form on this website and one of our specialist debt solicitors will get in touch with you soon to discuss your case. We take your privacy very seriously and work with complete confidentiality. There is never any obligation to take our service further than this phone call. We look forward to helping you out of debt soon.