Insolvency
Debt, Financial Guidance & Insolvency
General information on personal debt and insolvency in England and Wales, including budgeting, dealing with creditors and understanding formal solutions. Personal recommendations about regulated credit debts and arranging or managing repayments require an appropriately authorised or exempt debt adviser; SRA status alone does not establish permission for these activities.
Creditors, repayment plans & Breathing Space
Understanding priority debts, income and expenditure, creditor correspondence, repayment proposals and debt management plans. We can explain these options generally and direct you to an appropriately authorised or exempt adviser for regulated debt advice, creditor negotiations or setting up and managing a plan. Breathing Space eligibility is assessed through a qualifying debt adviser; a pause on eligible enforcement does not write off the debt.
IVAs, debt relief orders & bankruptcy
Comparing an individual voluntary arrangement, a debt relief order and bankruptcy, including eligibility, fees, excluded debts and the effect on your home, assets, employment and credit record. An IVA requires a licensed insolvency practitioner; a debt relief order application goes through an approved intermediary.
Choosing the appropriate next step
Not every debt is released on discharge, and secured debts require separate consideration. We explain the options and when an authorised debt adviser or licensed insolvency practitioner is needed, including access to free independent debt advice from services such as MoneyHelper, National Debtline and StepChange.