Personal Guarantees – What Directors Need to Understand Before They Sign
A personal guarantee is one of the most significant financial commitments a director can make, and also one of the most routinely underestimated. It is the document that turns a business debt into a personal one. For many directors, it represents the moment at which the legal separation between themselves and their company, which limited […]
Debt Relief Orders
If you ask most people to name a formal solution for personal debt, they will tell you about bankruptcy, and possibly about Individual Voluntary Arrangements, very few will mention Debt Relief Orders. This is a significant gap in public awareness given that Debt Relief Orders are, in many cases, the most appropriate and most accessible […]
County Court Judgements
What They Are, What They Mean and What to Do If One Is Registered Against You A County Court Judgement, or CCJ, is one of those letters that arrives and immediately makes the day significantly worse. It is a formal court order confirming that you owe a debt to a creditor, issued by the County […]
What The Market’s Reaction Actually Means for Your Debt
There’s been a lot of noise since Andy Burnham took over as Prime Minister, and if you’re already managing debt or watching your finances closely, it’s worth cutting through the headlines and looking at what’s actually changed, and what hasn’t. Here’s the practical picture. What Burnham Has Announced So Far The most concrete move so […]
Summer Debt and the True Cost of the Holiday Season
Summer arrives with the best of intentions. The plan is straightforward: a holiday, some time away from the routine, a few weeks of not thinking too hard about the things that pile up the rest of the year. What a significant number of people discover in September, however, is that the summer they paid for […]
What Happens to Your Pension in Insolvency?
Pension and insolvency is a combination that causes a significant amount of anxiety, and most of it is unnecessary, because the rules around pensions in insolvency are considerably more protective than most people assume. Understanding what is actually at risk, and what is not, is one of the most useful things anyone facing financial difficulty […]
Statutory Demands – What They Are and Why the Clock Starts the Moment One Arrives
A statutory demand is one of those legal documents that people sometimes set aside to deal with later, and it is precisely the kind of document that should not be set aside, because the window to respond is fixed, it is short, and allowing it to pass without taking action has serious consequences. Understanding what […]
Pre-pack Administration – What It Is, Why It Gets a Bad Press, and When It Makes Sense
Pre-pack administration is one of those insolvency processes that tends to generate strong opinions, and a lot of those opinions are based on a partial understanding of what it actually involves. It has a reputation for being used to sidestep creditors or allow directors to walk away from their debts and restart a business under […]
Individual Voluntary Arrangements – What They Are and Why More People Are Using Them
If you are dealing with personal debt that has become unmanageable, an Individual Voluntary Arrangement is one of the most widely used formal solutions available, and also one of the most misunderstood. The number of IVAs registered in England and Wales has been consistently high, and the reason is straightforward: for the right person in […]
Company Voluntary Arrangements – What They Are and When They Make Sense
A Company Voluntary Arrangement, or CVA, is one of the most practical and underused tools available to businesses dealing with unmanageable debt. It is a formal, legally binding agreement between a company and its creditors that allows the business to repay what it owes over an agreed period, while continuing to trade throughout. For the […]