The signs to look for when financial advice may be needed for your business: The Company is unable to pay its debts as they fall due. The Company is being chased incessantly for non-payment of bills, and may ultimately receive Statutory Demands, Writs or Winding Up Petitions. Cheques bounce due to lack of funds. Directors

  The signs to look for when personal financial advice may be needed:   Am I paying out more each month than I receive in income?   Am I struggling to pay my bills as and when they fall due?   Am I robbing Peter to pay Paul?   Are the payments that I am

  The Insolvency Service publishes a range of guides to help people understand insolvency, and the various services available to them. Currently most of the documents are only available as Word documents or as a PDF, but the new documents will be available as web based content. Whilst most people should have been able to

Debt begins to rise for UK households

Tuesday, 15 September 2015 by

The number of households struggling with problem debt grew by a quarter between 2012 and last year, as stagnating wages forced a growing number to borrow to get by, according to the TUC. By 2014, 3.2 million families were spending at least 25% of their gross monthly pay on servicing unsecured debts, the definition of

The North West has the highest rate of business rescue in the country with half of businesses (52%) declared insolvent surviving in some form, according to new report from the insolvency trade body R3. The report, Why Insolvency Matters: The insolvency profession’s value to the North West, reveals that out of approximately 2,391 businesses in

Just one person was made bankrupt in the City of London in 2014, compared to 101 in Blackpool, according to figures from the Insolvency Service which reveal a deep north-south divide in debt problems. The total number of personal bankruptcies in England and Wales peaked during the financial crisis in 2009, but has fallen dramatically and

We are proud to announce that our very own Sonya Brannigan is a finalist in the Business and Personal Financial Services category of the upcoming Eva’s Awards. The awards are extremely highly regarded and recognise excellence in a range of categories for women in business. To be a finalist is a cracking achievement on Sonya’s

  On Friday 25th September 2015 James from our Chesterfield Office is joining the World’s Biggest Coffee Morning by jointly hosting an event at The Little Castle, Enterprise Way, Duckmanton, Chesterfield, S44 5HP to fundraise for Macmillan Cancer Support. Macmillan offer valuable support to those directly facing cancer and to their families, and last year raised

Insolvency Practitioners face problems trying to comply with employment law on many cases due to the strict interpretation of the rules on consultation before making redundancies. This has led to several high profile Employment Tribunal cases where Protective Awards (an award of up to 90 days’ gross pay per affected employee for an employer’s failure

  A recent article in the Guardian tells the sorry tale of a gentleman who upon going through his recently deceased father’s affairs, discovered credit card debts of £80,000. This was a complete shock to him as not only was he unaware that his father had had multiple credit cards, he was horrified to discover

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