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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Car dealer John Brian Capper from Shipley, West Yorkshire, has been sentenced to an 18-month community order, including 250 hours of unpaid work, after failing to provide books and records when his company was wound up due to alleged tax liabilities...
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Important insolvency legislation changes have been proposed which mean that Directors of dissolved companies, particularly those that have received government support through bounce back loans or CBILS, can be investigated by the...
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A furniture boss from Stockport has been banned for 8 years after declaring bankruptcy before starting a new company with a prohibited name. Allan Kenneth Barke (34), had been the director of Cheshire Fitted Furniture Limited from...
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The beginning of May saw the first letters go out requesting repayment of Bounce Back Loans (BBLs) which were made available by the Government from March 2021. But what happens if you can’t afford to pay back the loan and if you are a...
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Bankruptcy is a frightening prospect with lasting implications so it’s no wonder that you may be reluctant to consider it as an option if you’re struggling to pay debts. If your circumstances allow, a Debt Relief Order may prove to be a...
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An alternative to Bankruptcy, an Individual Voluntary Arrangement (IVA) is a formal and legally binding agreement between you (as a debtor) and your unsecured creditors (people you owe money to) in which you agree to pay back all or part of your...
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Everyone dreads being unable to pay bills but for an unlucky few debt problems can become a life-consuming reality in which bankruptcy may be the best (or only) route out. Bankruptcy is a legal status that, in certain circumstances, may provide the...
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Leading UK business groups and insolvency experts yesterday advised the Government to reconsider its plans to prioritise repayments to HMRC over repayments to other creditors in insolvencies from 6 April 2020. In a joint statement distributed...
Read more...If the official receiver considers that a bankrupt has acted dishonestly, or is blameworthy in some other way i.e. excessive gambling, they will report the facts to court and ask it to make a BRO. The court will consider this report and any other...
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