What Comes Next When Debt Relief Is Over?
After the Rescue Finding a way out of overwhelming debt is often described as a lifeline. Whether through bankruptcy, an IVA, or another formal arrangement, the moment the pressure lifts can feel like a new beginning. But once the immediate relief arrives, many people ask the same question: “What happens next?” Life after debt relief […]
Bankruptcy or IVA?
Why Right Now, the Choice Matters More Than Ever For many people struggling with unmanageable debt, two terms keep cropping up: bankruptcy and Individual Voluntary Arrangement (IVA). Both are serious legal processes, both can offer a way out when debt feels overwhelming, and both carry long-term consequences. But the decision between them isn’t a simple […]
Company Directors: What You Really Need to Know About Insolvency
Being a company director carries a lot of responsibility. When business is going well, it can feel straightforward. But when money becomes tight and the business struggles, many directors find themselves worrying about what insolvency means for them personally. Will they be held liable for company debts? Could they lose their home? Is their career […]
Facing the Reality of Rising Insolvency in 2025
April and May 2025 painted a blunt picture: more than 10,000 people in England and Wales entered insolvency last month. That\’s a 5% rise from the same time last year. That includes 648 bankruptcies, 3,783 Debt Relief Orders (DROs), and 5,583 Individual Voluntary Arrangements (IVAs). It’s not just households. In May, 2,252 companies in England […]
Director Disqualification – What It Is and How to Avoid It During Insolvency
If you’re a company director and your business is facing financial trouble, the stress can be intense. On top of managing creditors, cash flow and staff, there’s the worry about personal consequences. One of the most serious risks is director disqualification. Director disqualification means you can be legally banned from acting as a director or […]
Is Your Business Heading Towards Insolvency? 3 Key Tests to Watch Out For
Even if your business seems to be ticking along nicely, it pays to stay vigilant. Financial trouble rarely appears overnight – it builds slowly, often hidden behind day-to-day pressures and short-term solutions. The earlier you spot the warning signs, the more options you’ll have to turn things around. At Adcroft Hilton, we work with business […]
What is A Letter Before Action?
A Letter Before Action (LBA) is a formal communication sent to a debtor as a final request for payment before initiating legal proceedings. Serving as a critical step in the debt recovery process, an LBA outlines the specifics of the outstanding debt and provides the recipient with an opportunity to settle the matter without court […]
Rising Insolvencies – What SMEs Need to Know
The UK business environment has faced significant challenges in recent years, leading to a sharp rise in company insolvencies. In 2023, over 25,000 companies became insolvent, marking a 14% increase from the previous year. Although there was a slight 5% decline in insolvencies in 2024, with 23,872 cases recorded, the overall financial pressure on businesses […]
Shareholder Agreements in Insolvency: Protecting Interests in Difficult Times
When financial difficulties arise, a well-crafted shareholder agreement can play a crucial role in safeguarding the rights and interests of shareholders. While not legally required, these agreements outline shareholder rights, duties, and dispute-resolution processes, acting as a private contract that supplements the company\’s articles of association. Importantly, they can offer guidance on how to proceed […]
The Latest Insolvency Statistics: What They Mean for UK Businesses
The recently released insolvency statistics for August 2024 show a continued trend of financial difficulties for many UK businesses, but also highlight opportunities for recovery. According to the data, 1,953 companies entered insolvency during the month—9% fewer than in July 2024 and 15% fewer than in August 2023. These figures, while lower than in previous […]