Category: Personal Insolvencies

Are we heading for another recession?

With the political and economic future of the country looking uncertain, many experts fear that another recession could be on the horizon. The 2008/2009 recession was hard on UK businesses, with almost 27,000 businesses going into liquidation or becoming insolvent, more than in any previous recession. With recessions usually occurring roughly once a decade, and…




How To Keep Calm Under Creditor Threats

If your business is struggling to pay what it owes then the ever present threat of creditors pursuing you is probably waking you up in a cold sweat. Creditors can come in many guises from banks to other companies and HMRC.   In the case of the latter, you’re not going to have a lot of…




Builder Case Highlights Danger of Taking Clients’ Money During Company Insolvency

Continuing to trade in the knowledge that a company is insolvent can be a precarious business as a press release displayed on the government website.gov.uk highlights.   The article relates to a builder who is now disqualified from trading altogether after it was discovered that he continued to take on work and receive payments while the business…




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…




Could Personal Insolvency Rates Be Down To Insufficient Pay?

The number of people declared insolvent in the UK has risen to its highest level since the 2008 recession with a number of factors being blamed for the increase.   The personal insolvency rate in the UK increased by nearly 10% compared to 2016 bringing an end to a seven year trend of falling insolvency rates….




Personal Insolvencies Could Increase Business Insolvency Risk

The latest figures released by the insolvency service show a significant increase in the rate of personal insolvencies which could be seen as a warning to businesses not to get complacent in the months ahead.   The 11% increase in personal insolvencies in the three months to September marked a record high for the number of…