What is Insolvency?
The process of insolvency can be confusing.Insolvency occurs when you can’t afford to pay back your debts at the time of which they are due. As a result, an individual may require insolvency help.
If you find yourself to be insolvent, they is insolvency help available. Insolvency help can be legally binding. The insolvency help then gives you protection from your creditors. The insolvency help can also assist in writing off debt.
Insolvency Help Available
Insolvency help available includes:
- Bankruptcy: This is to write-off debts for which the debtor has no realisitic chance of repayment.
- Debt Relief Order: Otherwise known as a DRO. This can write off debt for debtors with a small disposable income, few assets and relatively low level of debt.
- An Individual Voluntary Arrangement: Known as an IVA. An IVA allows the debtor to make reduced payments over 5 or 6 year period. Following this, the rest of the debt is written off.
As you can pertain, all insolvency help have differing requirements. Therefore, it can be complex to understand which insolvency help applies to you or best fits your needs.
Insolvency Help Process:
All insolvency help comes with a new application proccess. Immediate Bank Claims is available to assist with the insolvency help process.
In unusual cases, creditors can apply to a court in order to make your bankrupt. This is expensive process for the creditor. It is most commonly utilised where a debtor has enough assets to repay their debts. If you think a creditor is about to make you bankrupt, contact Immediate Bank Claims for insolvency help & assistance.
Immediate Bank Claims offers free consultations for prospective clients requiring insolvency help. Should you require insolvency help, act now before your creditors too. Immediate Bank Claims supplies a confidential service with full transparency. With our assistance, clients facing insolvency can receive specialised help to reach the best solution.
If you require insolvency help, act now.
Call Immediate Bank Claims on 0207 127 9134
or fill in the contact form with your enquiry:
Insolvency Help in the Press:
Gov discuss insolvency help & plans: