Insolvency for Individuals IVA Bankruptcy

Corporate.

Individual & Partnership.

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Insolvency for Individuals

for free confidential advice call 01392 314 092

If the investigation we will conduct, free of charge, shows the individual can pay his/her debts given time, your options will be one of the following:

1Informal Arrangements.
Made between Debtor and Creditor, not involving the use of formal processes, like Court Judgements, IVA’s or Bankruptcies for example.

2Debt Management.
They have a place, but tend are expensive, with a higher percentage of the payments going to the management company and not the creditors.

3IVA.
Is a formal agreement between you and your creditors, where you formally agree with your creditors to make payments towards your total debt.

If the investigation shows that you cannot realistically repay your debts, even give time, your options will be:

1 DRO (a Debt Relief Order)
To apply, your total assets, excluding a car, cannot exceed £300.00 and your disposable income, after living expenses, must be less than £50.00 a month.

2Bankruptcy.
Bankruptcy is one way of dealing with debts you cannot pay, so that you can make a fresh start. But, depending on your particular situation it might not be your best option.

Either way, act now, get professional advice, free, from Phoenix & Co.

Rescue. Recover. Renew. For free advice:

Phoenix & Co, 1 Emperor Way, Exeter Business Park, Exeter, Devon EX1 3QS.

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