Personal insolvency

High levels of personal debt are now a very common problem. There are many reasons why an individual could face the prospect of personal insolvency. For example, you or a client may have been made redundant, split up with a partner or be experiencing severe business problems.

Juggling debts can mean borrowing more just to live. Nobody should have to cope alone. We specialise in solving debt problems, no matter how complicated or difficult they appear. Even if you or a client has seemingly unmanageable debts, we can often show you an affordable route to financial freedom.

We can offer confidential advice with the following:

  • individual Voluntary Arrangements (IVAs);
  • bankruptcy;
  • debt management;
  • trust deeds (Scottish residents only);
  • sequestration (Scottish residents only); and
  • debt relief orders.


Bankruptcy is a legal process that uses a 'bankruptcy order' to address very serious debt problems. Once such an order has been made by a court, a trustee will control your assets and oversee your finances. Any further interest and charges on your debts will be frozen.

Anyone can go bankrupt, including individual members of a partnership. It is very costly and difficult to get a bankruptcy order reversed and it is important to review all alternatives, so we strongly advise consulting with a specialist before making a decision.

The main features of bankruptcy are as follows:

  1. bankruptcy involves a full investigation into your financial affairs
  2. it involves a ruling made by the courts known as a ‘bankruptcy order’
  3. as with an IVA, bankruptcy gives you a fresh start. Creditors are unable to make any payment demands from you
  4. interest and charges are frozen
  5. bankruptcy is a solution for those able to pay nothing, or very little, towards their debts
  6. if you can make payments towards your debts, you will make monthly payments for a set period of up to three years
  7. your creditors will be paid from the sale of your valuable assets, if any, and from any monthly payments you can make
  8. details of bankruptcies are made public and you can be excluded from some professions
  9. bankruptcy will remain on your credit history for six years after you have been discharged

For further information or advice, please call our specialist debt team on +44 (0)20 7628 2040.