Category: Debt Management Plan

How to Prepare for A Meeting with An Insolvency Practitioner

If you are planning to enter into an Individual Voluntary Arrangement (IVA), you will need to have a meeting set up with an insolvency practitioner (IP) to discuss your case. The IP will expect you to come prepared with all the information required to set up the arrangement because if there is anything missing or…




Will Business Insolvency Mean I Lose My House?

Losing a business to insolvency is bad enough – losing the home you worked equally hard for is something else. This is why many business owners end up worried about the implications of their business entering insolvency and whether or not they will be personally liable.   Unfortunately for sole traders, this will almost certainly be…




More Construction Insolvencies As Carillion Fallout Continues

Anyone hoping for better news in the construction industry will have to wait longer as data shows hundreds of construction firms entered insolvency in the first quarter of the year.   The collapse of Carillion may have grabbed all the headlines due to its high profile and size, but the ripple effect is already looking a…




Is Your Business Set Up To Fail?

This may sound like an odd question, we can all talk about how we work hard to succeed at our businesses, put in the hours and so on but often this effort can be misplaced and not in the long term interests of the business.   Weaknesses in any of the key areas of what makes…




Guide to Exit Strategies

Every business owner(s) or shareholders should have an exit strategy because there will inevitably come a time when the business itself reaches the end of its life or the owners wish to leave the business and move on. But what exactly is an exit strategy in practice? Here’s a brief guide to explain…  The confusing…




What Can You Do If You’re Wrongly Pursued For Debts?

You probably get spam emails every day claiming you owe money but it’s a totally different matter when the claim is genuine and your creditor is claiming you owe them money when this is not the case.   Most often this type of claim is made by an organisation you have not communicated with directly such…




Debt Management Plan Or Insolvency Practitioner – Which is Best?

Many people live from one pay day to the next and simply continue to service debts which have built up over a number of years to levels where the person is trapped in a debt cycle. Sometimes this debt reaches a point where income is no longer enough to keep up repayments and bankruptcy looms.  …