We know that personal insolvency can be an incredibly stressful situation to deal with. There are all sorts of reasons why you might find yourself unable to pay your debts, and sometimes this can be due to factors well outside your control. If your payments are in arrears or creditors are threatening court action, your mental health and wellbeing can eventually start to suffer.
At Farleys Solicitors, we’re here to help. With 60 years of experience behind us, we provide free initial, impartial and confidential personal insolvency advice. By drawing upon our decades of specialist expertise, we can assist you with information and guidance on all stages of personal insolvency matters, from statutory demands all the way through to bankruptcy petitions and court proceedings.
Our insolvency solicitors in Manchester also work with a trusted network of professionals who specialise in personal insolvency issues, so we can also help signpost you to any specific resources or support that you might need.
What is Bankruptcy?
Bankruptcy is a court based procedure to provide debt relief for people who have little or no hope of paying off their debts, living with financial circumstances that are unlikely to undergo significant change. Personal bankruptcy procedures are only applicable to individuals. The equivalent procedure for companies is corporate insolvency.
The specifics of personal insolvency UK rules vary between different countries in the United Kingdom. The procedure in England and Wales bears notable differences to its counterparts in Scotland or Northern Ireland.
We advise individuals, businesses and insolvency professionals on the legal aspects of:
- Debt Relief Orders
- Statutory Demands
- Individual Voluntary Arrangements (IVA)
- Bankruptcy – Duty to Co-operate
- Equity of Exoneration – The Spouse’s Claim
- Bankruptcy Restriction Orders
- Income Payment Agreements and Income Payment Orders
- Trustee in Bankruptcy – Reviewable Transactions
- Debt Management