insolvency and bankruptcy Archives

What Happens After You File for Bankruptcy in the UK as a Firm and as An Individual?
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What Happens After You File for Bankruptcy in the UK as a Firm and as An Individual?

Business Insolvency

What Happens After You File for Bankruptcy in the UK as a Firm and as An Individual?

Mention the word bankruptcy and people visibly recoil however, for partnerships and individuals who are struggling with debts in excess of £5,000 it could be the only solution. In January 2021 alone, there were 818 bankruptcies and 1,167 Debt Relief Orders (DRO) – an order that stops your creditors from taking legal action against you. [...]

By Scott Rawlins|2023-03-24T12:05:00+01:00June 16th, 2021|Business Insolvency|0 Comments

What is the difference between insolvency and bankruptcy? How do these affect creditors and shareholders of a company?
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What is the difference between insolvency and bankruptcy? How do these affect creditors and shareholders of a company?

licensed insolvency

What is the difference between insolvency and bankruptcy? How do these affect creditors and shareholders of a company?

Insolvency and bankruptcy - it’s confusing to know which applies to your business. Whilst the two are similar, they are also very different and don’t mean the same thing. Insolvency is when a company or an individual can’t pay their debts on time. Bankruptcy is the legal process that follows when an individual has been [...]

By Scott Rawlins|2023-03-24T12:06:00+01:00April 21st, 2021|licensed insolvency|0 Comments