Individual Voluntary Arrangements (IVA’s) deal with personal debts and offer a formalised alternative to bankruptcy and its consequences, binding your unsecured creditors and putting an end to any legal action. Unfortunately, their reputation has been tarnished by mis-selling on the part of the so-called “IVA factories”, but with thorough preparation and after-care they are still a most potent tool for dealing with debt problems. My panel of experts includes some of the most experienced Insolvency Practitioners in terms of both personal and corporate debt solutions.
Informal Arrangements are normally based on a lump sum payment, often from a third party (perhaps a relative), settling debts for an equitable percentage of what’s outstanding by preparing a candid assessment of the client’s circumstances to persuade the creditors to make a commercial decision. Nowhere near as potent as an IVA, but can work well in the right circumstances.
Negotiation / Mediation Services usually involve arranging instalment payments or lump sum settlements with single creditors and can resolve disputes, deal with legal proceedings, or avoid them altogether reducing time spent and inconvenience both on the part of the client and the creditor. Particularly effective with trade creditors, Trustees or Liquidators, IVA Supervisors, & mortgage shortfall claims. My panel of experts includes experienced, professional mediators.
Debt Management Plans are only a temporary solution in my experience, but can be used most effectively to prevent creditor action while a better long-term solution is being formulated and put in place. I can put you in touch with reputable providers.
Compensation Claims Your borrowings can be analyzed by a specialist legal team and, although most companies offering this service require a large up-front fee; my provider does not charge anything up-front, they only get paid when they get results. Please click on the "No Win No Fee Claims" tab above for more information.
Accountancy Services are required where a taxpayer is non-compliant i.e. fails to submit the required returns for self-assessment, VAT or PAYE/NIC, and ultimately HM Revenue & Customs will pursue bankruptcy action against the taxpayer based on their determinations (estimated figures). I have experts who can deal quickly and efficiently with simple issues and accountants who can deal with more complex matters.
Corporate Services Company Voluntary Arrangements (CVA’s), Administration, Liquidation, Striking Off. I will talk / meet with any potential corporate client and assess realitically whether they can trade through their difficulties, and discuss what protective measures could be put in place to achieve that, and if not, to discuss their options as regards cessation of business. I then invite them to attend a meeting with an Insolvency Practitioner and where required other specialist service providers, to discuss the most viable solution.
Debt Recovery If your debt problems are being caused or made worse by slow or non-payment of monies owed to you, I can refer you to a highly experienced debt recovery agent, who will advise you honestly and without charge regarding the various options and whether your claim is recoverable / cost-effective to pursue.
Legal Services I can assist clients with preparation for hearings in the County Court, Bankruptcy Court, and Magistrates’ Court, and arrange legal representation when required, primarily to delay creditors’ actions, agree accounts with HMRC, and gain time to put a debt solution in place.
Funding can of course be difficult to find in a debt situation, especially in the current lending climate, but a panel of specialist brokers and lenders ensures that there are usually options available, whether for raising finance against a property or assets, or for vehicle finance.
A comprehensive utilities review could significantly reduce your outgoings and make your debt solution more affordable / reduce the term over which you are repaying your debts.
Annulment of Bankruptcy Orders is extremely complicated and very few people have the necessary expertise. An application can only be made on the grounds that an Order ought not to have been made, if an IVA has been put in place as an alternative to the bankruptcy, or where all the bankrupt’s debts, costs and interest have been paid in full. It is best to act extremely quickly and preferably before a Trustee is appointed as his fees can drastically increase the amount required to annul the Bankruptcy Order. I have experts in this field.
Trust Deeds (Scotland) The Scottish alternative to long term debt problems /insolvency. Trust Deeds offer significant advatages and, although on rare occasions they are rejected by the creditors, my specialist provider is happy to review your suitability and the likely reactions of your particular creditors.
