If you are unable to pay your personal debts, we are able to provide you with initial legal advice on all the options open to you.
We can first assist with making informal arrangements with your creditors to avoid bankruptcy and advise you on whether an Individual Voluntary Arrangement is a suitable option for you and your creditors.
If you are then made bankrupt, we can assist if there is an application to sell your property, and we can advise any affected family members who may have an interest in your assets or may wish to buy some of your assets back.
We can advise and assist you if your Insolvency Practitioner (or Official Receiver) is trying to obtain a bankruptcy restriction order against you, which extends the restrictions you are subject to when bankrupt for a period of up to 15 years after the bankruptcy is discharged. Similarly we can act vigorously if there is a threat of a claim being made against you.
If you dispute the bankruptcy order or have paid off the debts, we are then able to assist you on an application to annul the bankruptcy.
Please note that if, after careful consideration, we believe that personal bankruptcy is the best option for you, we would normally recommend that you navigate the process yourself, as we are not able to provide legal aid assistance for personal bankruptcy.
The government website provides information on the process you need to follow – https://www.gov.uk/bankruptcy