An Individual Voluntary Arrangement (IVA) provides individuals with protection from legal action while trying to settle debts. It is a good option for those wanting to repay debts, or an agreed percentage thereof, over a set period of time and avoid...
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One way to deal with personal debts is to apply for a Debt Relief Order (DRO) which are not particularly well-known but can offer a helpful solution for those with relatively low levels of debt and few personally-owned assets. As always, seek...
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The Debt Respite Scheme is the official name for Breathing Space, a government programme that grants those individuals in debt a break from the stress of missed payments and a chance to catch up financially. If you’re struggling to pay off your...
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Are Buy Now Pay Later (BNPL) products a savvy way of managing your money and buying what you want or a way of getting you into debt? Buy now pay later (BNPL) is a service that allows consumers to shop online and place and receive orders while...
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HMRC paused many of its debt collection activities during the COVID-19 pandemic and has been delivering support packages like the Coronavirus Job Retention Scheme and Self Employment Income Support Scheme. Now that these support measures have come...
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Claims for financial support may be deemed fraudulent if the company was already in trouble when making claims and then later enters into an insolvency process. Insolvency practitioners (IPs) have been advised to remain alert to potentially...
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There are many misconceptions amongst debtors and creditors alike on how outstanding debts can be dealt with, causing confusion, frustration and disappointment amongst all parties involved. In this article, we examine some of the 'top myths'...
Read more...BANKRUPTCY INDIVIDUAL VOLUNTARY ARRANGEMENT (IVA) Advice Free from Bretts Business Recovery Free from Bretts Business Recovery Bank Account Frozen initially and likely to lose if overdrawn May be retained provided...
Read more...An alternative to Bankruptcy is an Individual Voluntary Arrangement (IVA) which is a legally binding agreement between a debtor and his/her creditors whereby the debtor repays all or part of their debt over a fixed period of time. A debtor may make...
Read more...A Bankruptcy Order is made by the Court either on the application of a creditor who is owed over £750 or a debtor personally. The process of requesting the Court to make someone bankrupt is referred to as petitioning the Court for a Bankruptcy...
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