Whether you own a business or are facing financial issues as an individual, our experienced bankruptcy solicitors in Rayleigh can be there to help and advise you through your options, as well as supporting you throughout the process you take. We can help at any stage of an insolvency or bankruptcy case.
Before we provide legal assistance, and where necessary, we can refer you to specialists such as liquidators, administrators or trustees in bankruptcy. We also have extensive experience as specialists in debt recovery.
If you do not make payments on a debt that you owe, the creditor you borrowed the money from can take you to court in attempt to receive what they are owed. Bankruptcy is the legal process you can go through if you are struggling financially and cannot pay your debts or if the creditor decides that they wish to make you bankrupt.
Specialist advice is important to seek, as bankruptcy is not a decision to take lightly. If you want to challenge or annul a bankruptcy order that a creditor has applied for against you, we can advise you on your options.
Whilst there is no minimum debt amount required for a person to apply for their own bankruptcy, the rules are different if someone else is applying to make you bankrupt. If you owe £5,000 or more to creditors, they can apply to make you bankrupt. An IVA (individual voluntary agreement) supervisor can also make you bankrupt if you do not keep to the terms of the IVA.
We also have experienced insolvency solicitors in Rayleigh that can help with your case and put you at ease in what will no doubt be an incredibly stressful time. So if you or your business are in financial distress, you can contact us today for expert legal advice.
Insolvency refers to a financial state where you or your company cannot pay your debts on time and all other less formal arrangements to solve the financial situation have failed. Becoming insolvent can lead to a formal insolvency process with the appointment of a liquidator.
If your company or business is struggling financially and cannot pay off its debts, it will fall into insolvency and may mean the company is at risk of shutting down operations. Our highly experienced corporate insolvency lawyers in Rayleigh can help at any stage of the process. We are one of the only law firms in the region to offer a specialist insolvency litigation team. We will refer you to the appropriate liquidator or insolvency practitioner where necessary.
BTMK can help with the issuing of, or the protection from a Winding Up Petition. If one is threatened against your company, urgent steps such as an injunction to prevent advertisement of the petition need to be taken to protect the reputation and future of your business. Steps also need to be taken to protect against the petition being defended.
We will work alongside professional advisers to help you secure the best result, from individuals and family run companies to major multinationals.
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