PERSONAL INSOLVENCY
If an individual is experiencing financial difficulties and struggling to repay debts then it is important to consider the options available. Liz McKeown & Co has extensive experience dealing with matters of personal insolvency and can provide professional advice to get on an even footing and avoid further loans.
BANKRUPTCY
A legal proceeding involving a person that is unable to repay their outstanding debts. The bankruptcy process begins with a petition filed by the debtor or on behalf of a creditor. All of the debtor's assets are evaluated, then used to repay a portion of outstanding debt. Upon the successful completion of bankruptcy proceedings, the debtor is relieved of the debt obligations incurred prior to filing for bankruptcy.
INDIVIDUAL VOLUNTARY ARRANGEMENT (IVA)
An IVA is an alternative to bankruptcy; a person can enter into an IVA and pay the maximum possible amount to the creditors to repay their debts. These are seen as a preferable option to bankruptcy.
We are a member of the DETI and R3 and will always uphold the high standards expected of us.
CONFIDENTIAL
We understand the importance of dealing with these situations in a delicate and confidential manner. Personal insolvency can be a stressful experience and we endeavour to get through it together.
To learn more about our personal insolvency service call us on028 9092 3335