A bankrupt owes me money. What should I do?

A bankrupt owes me money. What should I do?

Bankruptcy occurs when an individual person (as opposed to a company) is unable to pay their debts. When an individual becomes insolvent and a court makes a bankruptcy order, all the individual bankrupt’s property will vest in what is known as a trustee in bankruptcy. A trustee in bankruptcy is someone who takes control of the bankrupt’s affairs and attempts to ensure all creditors of the bankrupt receive a percentage of what they are owed,…

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Are some debts more serious than others?

Are some debts more serious than others?

With the increase in the availability of credit over the past decade, more and more people are finding themselves in debt. In some cases this is not a problem so long as the debt is manageable and not immediately due. Many people have credit cards which allow them to use money they do not have and thus fall into debt. However, so long as the individual is able to pay the minimum amount due in…

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Can I be sent to prison for my debts?

Can I be sent to prison for my debts?

If you require further help on a matter of debt law you can use our solicitor directory to the right of this article to look for legal advice near you. How likely is it that you will be sent to prison for not repaying your debts? Sending a debtor (a person who owes a debt) to prison for non-payment of debts is a last resort. A debtor is given every opportunity to repay their debts – usually…

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County court claims and County Court Judgments (CCJs): an overview

County court claims and County Court Judgments (CCJs): an overview

If you get a letter telling you a county court claim has been issued saying you owe someone money, don’t be alarmed. The court will decide whether you have a debt to pay – and if so, how you should repay it – in a way that’s fair to everyone. If you require further help on a matter of debt law you can use our solicitor directory to the right of this article to look for legal…

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Do I need a solicitor to help me collect a debt?

Do I need a solicitor to help me collect a debt?

Although a solicitor can assist you in collecting a debt, there are a number of steps you can take on your own, before getting a solicitor involved. Under legislation relating to late payments, once a debt becomes overdue, you can recover interest and — if you need to take action to collect the debt — an amount in respect of your debt collection costs. In discussing the matter with the debtor, or in corresponding with…

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Do I need to consolidate my debts?

Do I need to consolidate my debts?

When a debt problem exists, it is crucial not to panic or ignore it. The following steps are widely recognised as being effective in dealing with debt problems: Calculate the amount of the debt Compile a full list of creditors (individuals and companies) and the following information for each: the creditor’s contact details the account or reference number (if any) a copy of the original signed credit agreement (if any). Establish which debts are the…

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How can I avoid debt over-commitment?

How can I avoid debt over-commitment?

Paying bills is a reality of life. Bills only become an issue when your income is insufficient to make payment of them – this is called ‘debt over-commitment.’ This guide outlines how debt over-commitment can affect you and the steps you can take if you have over-committed yourself. What is over-commitment? Becoming over-committed is easier than you might think. Each time you sign-up for a new utility service, such as satellite television or a mobile…

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How can I deal with my Council Tax arrears?

How can I deal with my Council Tax arrears?

What will happen if I do not pay my council tax arrears? If a person fails to make full payment of their council tax and does not reach an agreement with the council to make payment, the council may apply to the local magistrates’ court for a ‘liability order’. What is a liability order? A liability order is a court order stating that the entire council tax bill for the year must be paid, not…

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How can I get myself out of debt?

How can I get myself out of debt?

Sometimes you can start accumulating debts and find yourself having difficulties paying them off. Below are a few tips that could have you overcome your debt problem. Being aware of your debts The first thing to ensure is to consciously acknowledge your debts. Many people try to avoid the issue of debt because of the stress it can cause; however, ignoring debt doesn’t mean it will go away.  Doing some research on how to overcome…

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How can I recover debts owed to me?

How can I recover debts owed to me?

Options to recover debts owed There are several options available to an individual who is owed money (a ‘creditor’) by another individual or company (a ‘debtor’). A creditor who wishes to collect debts owed to them may consider any of the following courses of action: making informal contact with the debtor using a mediation service initiating court action issuing a statutory demand for payment having a debtor declared bankrupt or a company ‘wound-up’ (liquidated) The…

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How do I bankrupt someone?

How do I bankrupt someone?

The court can make a bankruptcy order against an individual who fails to pay their debts, which ensures that all the assets of that individual are sold or used to repay their creditors (the people they owe money to). However, this does not guarantee that all creditors are repaid in full. To make someone bankrupt you need to apply the court; however, not all courts deal with bankruptcy and if you are considering taking steps…

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How do I budget?

How do I budget?

Find out how a personal budget will help you make the most of your money and avoid over-commitment. It will also help you plan for the future and negotiate with any people you owe money to. Advantages of a budget With an accurate budget, you’ll be able to cut out unnecessary expenses and save money, or stop running up big debts. If you already have debt problems, a budget will show you how much spare…

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How do I claim money from a bankrupt or a company in liquidation?

How do I claim money from a bankrupt or a company in liquidation?

If a person or company owes you money and they have become bankrupt or have gone into liquidation, you may still be able to get some, if not all, the money owed to you. Registering as a creditor The first thing you need to do in order to claim the money owed is to register as a creditor of the person or company. You are not guaranteed payment of any debts if you register but…

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How do I deal with loan sharks?

How do I deal with loan sharks?

What is a loan shark? In order to lend money on a lawful basis, an individual or entity has to be authorised by the Financial Conduct Authority (FCA). FCA-authorised money lenders are listed on a register on the FCA website. Those who lend money illegally (that is, without being FCA-authorised) are known as ‘loan sharks.’ What are the features of a loan shark? Loan sharks target low-income and desperate families in need of money. They…

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How do I declare myself bankrupt?

How do I declare myself bankrupt?

Bankruptcy can have a serious effect on your daily life, but it can also provide a new start if your debt problems cannot be resolved any other way. So, do all your research and take independent legal advice to ensure that bankruptcy is the right option for you. Should you decide that bankruptcy is best, you will need to follow the bankruptcy application process carefully.   How do you declare bankruptcy?  If you would like…

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How do I get back money I am owed?

How do I get back money I am owed?

If you are owed money by somebody you should visit a solicitor for legal advice to see if there are any ways of getting the money back. A solicitor will be able to advise on a number of options depending on your situation and the circumstances of the individual or company that owes the money. Informal contact The first port of call for any creditor should be to talk to the debtor with a view…

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How do I know my company is insolvent?

How do I know my company is insolvent?

If your company is insolvent – or you think there’s a possibility that it is – there’s no need to panic. It may be a temporary issue so you may be able to continue trading. However, as a director, you should seek legal advice to be on the safe side. Directors have a legal responsibility to understand this issue. If you believe your company has insufficient funds to satisfy its liabilities in a timely manner,…

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How do I make someone bankrupt to recover a debt?

How do I make someone bankrupt to recover a debt?

If someone owes you money, you may be able to declare them bankrupt. To make someone bankrupt you will need to submit a bankruptcy petition to a court, which means the debtor’s assets would be taken and sold to pay their debts. However, using a mediation service may be a more effective way of reclaiming the owed debt. When can I present a bankruptcy petition to a court? You can present a bankruptcy petition against…

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How do I Respond to a County Court claim?

How do I Respond to a County Court claim?

Receiving a form from a County Court claiming that you owe someone money can leave you with an unsettled feeling, but you should resist the urge to ignore it. You must respond within 14 days of receiving the form. This deadline can be extended to 28 days by completing and returning an acknowledgement of service form, which can be found in the County Court claim form response pack. If you do not reply or miss…

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How do I use a statutory demand to recover a debt?

How do I use a statutory demand to recover a debt?

If you are owed money and the debtor has not made any attempt to pay the debt, it may be possible to get a statutory demand for the debt.  Statutory demands are written documents payment that can be issued by a court and contain the following information: how much must be paid when payment must be made for example, immediately or by a certain date what will happen if the demand is ignored for example,…

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How do I use an Official Receiver?

How do I use an Official Receiver?

If your company is unable to pay its debts when they fall due or it does not have enough assets to covers its liabilities, it is technically insolvent. This guide discusses how you should use an Official Receiver when your company is insolvent. Who is the Official Receiver and what is their role in corporate insolvency? The Official Receiver (OR) is an officer of the court and a civil servant in the Insolvency Service, which…

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I am having problems getting credit. What can I do?

I am having problems getting credit. What can I do?

Sometime we need to borrow money to make important purchases, for example buying a car or making improvements on our home. However, sometimes you can find yourself struggling to be able to borrow money. Below you will find the reasons why some people have problems getting credit as well as advice on how to improve your creditworthiness. Why am I struggling to get credit? You may be having problems getting credit for the following reasons:…

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I have received a County Court Claim form. What do I do now?

I have received a County Court Claim form. What do I do now?

Has a creditor sent you a County Court Claim Form? This article explains what they are and how you should deal with them. What is a County Court claim form? A County Court claim form is an official document, issued by a County Court, outlining the amount of money a person or entity (known as a ‘creditor’ or ‘claimant’) thinks they are owed by another person or entity (called a ‘debtor’ or ‘respondent’). What is…

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Im being evicted because of mortgage arrears. What can I do?

Im being evicted because of mortgage arrears. What can I do?

I’m being evicted because of mortgage arrears. What can I do? If you are in mortgage arrears there is a possibility you may lose your home. However, your home cannot be repossessed until the following have been carried out: First of all, your mortgage lender must obtain a Court Order allowing them to repossess the property. Secondly, the court has issued a Court Bailiff who has a warrant to evict your from your home. Your…

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My creditors keep calling me. What can I do?

My creditors keep calling me. What can I do?

Creditors are people or organisations you owe money to. If you owe money to a creditor and do not pay your debts or do not pay them on time, your creditor is entitled to call you asking for payment. They can also make reminder phone calls to you requesting payment from time to time. This will not normally be considered harassment. However, creditors must not act outside the boundaries of the law. This guide will…

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Terms used when dealing with debt

Terms used when dealing with debt

You may come across some unusual words and phrases, for example from credit providers, the courts or bailiffs, when you are in debt. Administration order An order asking you to make regular payments to the court, which then distributes the money to the people you owe money to. Arrears When you are behind with payments (for rent or a loan, for example). Attachment of earnings When you have money taken out of your wages or…

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What are Administration Orders?

What are Administration Orders?

What is an administration order? An administration order is a method of managing debt if you have a county court or High Court judgment against you and you’re unable to pay it in full. It’s a legally binding agreement between you and your creditors, which involves you repaying your debts over a certain period. You make one monthly payment to your local county court, which will divide the money between your creditors. An administration order…

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What are Debt Relief Orders?

What are Debt Relief Orders?

What is a debt relief order? A Debt Relief Order (DRO) is a way of handling your debts if you owe less than £15,000, have little in the way of spare income and don’t own your property. If you’re successful in your application for a DRO, your creditors won’t be able to recover their money without the court’s consent and you’re ‘discharged’ (relieved) of your debt after 12 months. What are your responsibilities under a…

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What are Fast-Track Voluntary Arrangements?

What are Fast-Track Voluntary Arrangements?

What is a Fast-Track Voluntary Arrangement? A Fast-Track Voluntary Arrangement (FTVA) is a form of Individual Voluntary Arrangement (IVA), which involves selling your assets to settle your debts over a period of time, thereby ‘annulling’ (cancelling) your bankruptcy. It’s a court-approved debt solution, which your creditors must abide by. What are your responsibilities under a Fast-Track Voluntary Arrangement? Under the terms of an FTVA, you must fully cooperate with the Official Receiver (OR) – an…

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What are Individual Voluntary Arrangements?

What are Individual Voluntary Arrangements?

What is an individual voluntary arrangement? An Individual Voluntary Arrangement (IVA) is a formal, legally binding agreement between you and your creditors to settle all or part of your debts over a certain time – usually over a five-year period. Although it’s a form of insolvency – a formal declaration of your inability to meet your financial obligations to your creditors – an IVA is a popular alternative to bankruptcy, mainly because it’s a less…

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What are my options if I been refused a loan or credit?

What are my options if I been refused a loan or credit?

If you’ve been refused a loan or credit, or you’re worried that you might be, you can check the information that’s kept about you. If it’s wrong you can ask for it to be corrected. If the information is correct and you’re worried about your debts you can get free help. How lenders decide who to lend to When you apply for a loan or credit, lenders want to know that you’re going to be…

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What are my rights under a credit agreement?

What are my rights under a credit agreement?

Any individual or institution that offers you credit must be licensed by the Financial Conduct Authority. The majority of consumer credit agreements are governed by the Consumer Credit Act 1974 and the Consumer Credit Act 2006. These are known as ‘regulated agreements.’ When you purchase goods or services on a regulated credit agreement, certain rules apply. Formalities Any contract involving credit must be reduced to writing and must consist of specific information. The credit agreement…

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What are the advantages and disadvantages of going bankrupt?

What are the advantages and disadvantages of going bankrupt?

Declaring or being declared bankrupt has a number of both advantages and disadvantages. What are the advantages of declaring bankruptcy? Your debt is written off, which can provide peace of mind and allow you to begin again financially Your creditors are unlikely to continue chasing payments from you Bankruptcy normally only lasts a year What are the disadvantages of declaring bankruptcy? It is likely you will lose some of your assets – for example you…

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What are the costs of making a claim in court?

What are the costs of making a claim in court?

There are two different fee structures when making a claim for money in court. If you use the government’s Money Claim Online system this is cheaper than sending a claim form to the county court. However,  please be aware Money Claim Online can only be used for claims worth £100,000 or less. Money Claim Online can be accessed here. The court fees for claiming money through a court are:  Claim Amount  Sending Form Cost  Using…

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What are the differences between overdrafts and loans?

What are the differences between overdrafts and loans?

Overdrafts can offer flexible borrowing to meet short-term needs. Personal loans are for fixed amounts and are more suitable for borrowing larger sums over a longer term. If you’re considering borrowing, be sure you can afford the repayments. Overdrafts Overdrafts are like a ‘safety net’ on your current account; they allow you to borrow up to a certain limit when there’s no money in your account and can be useful to cover short term cashflow…

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What are the powers of bailiffs & debt collectors?

What are the powers of bailiffs & debt collectors?

Bailiffs are individuals who are granted the legal right to recover possessions on behalf of a court, with the aim of selling those possessions to help settle a debt. Bailiffs may be employed directly by a court, for example County Court bailiffs, or they may work for a private company under a contract. By contrast debt collectors are not bailiffs and it is illegal for any debt collector to act in a way so as…

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What can I do if I am a creditor of an insolvent company?

What can I do if I am a creditor of an insolvent company?

A company is considered ‘insolvent’ if it does not have sufficient assets to covers its debts and/or it is unable to settle its debts on their due dates. If you are a creditor of an insolvent company, there are a number of steps you should take in order to recover any funds that may be due to you. Why should you register as a creditor in liquidation? If an insolvent company owes you money and…

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What can I do if I have problems getting credit?

What can I do if I have problems getting credit?

There is actually no such thing as a “blacklist” of people that lenders will automatically refuse to lend to. Most lenders use a combination of information held by the credit reference agencies and their own credit scoring system to decide whether credit should be offered. Credit reference agencies hold a record of most credit agreements applied for or taken out. You can obtain a copy of your own credit reference file by applying to one…

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What can I do if I owe money to HM Revenue and Customs?

What can I do if I owe money to HM Revenue and Customs?

I owe money to the HM Revenue and Customs but can’t pay. What can I do? If you are complete tax self-assessment forms as you are self-employed in some capacity, it is likely you will be expected to pay income tax twice a year in lump sums. However, if you find you are unable to pay your taxes to HMRC then there are some courses of action. First of all, it is recommended you contact…

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What can I do if my home is repossessed?

What can I do if my home is repossessed?

If you are unable to delay or prevent your home being repossessed, you will need to find alternative accommodation. This guide will help you to consider your options once your home has been repossessed. Local Authority advice, assistance and accommodation When your home has been repossessed, it may be possible for you to get help from your local council. Local councils are legally bound to provide advice, emergency accommodation and longer-term housing to certain people…

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What can I do to avoid going into debt?

What can I do to avoid going into debt?

Pay off your debt Pay off your debts — good advice that’s mostly observed in the breach! Seriously, though, most consumer debt has a very high rate of interest. You can save a lot of money by paying it off altogether. In addition, there is the psychological benefit of living debt-free. Instead of borrowing more to pay for major purchases and holidays, you can save your money to pay for them. Beware, however, the consumer…

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What can I do to avoid repossession?

What can I do to avoid repossession?

Before missing a mortgage payment, mortgage holders who are having difficulties managing their finances are advised to contact their lender at the earliest opportunity and explain the problems they are experiencing. Mortgage lenders are sometimes open to the possibility of making changes to the terms and conditions of the mortgage to make repayments more manageable. In any event, there are a number of steps mortgage holders can take to prevent their home being repossessed. Avoid…

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What creditors are allowed to do to get their money back

What creditors are allowed to do to get their money back

If debtors are unable to reach an agreement with their creditor to pay back the money they owe at an affordable rate, the creditor’s main legal option to get their money is through a ‘money-only’ claim in the County Court. Before taking a debtor to court, the creditor should send them a warning letter, informing them that, unless they pay the money back, they will commence legal action within a certain period of time. If…

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What happens if a mortgage lender takes me to court?

What happens if a mortgage lender takes me to court?

If you have fallen behind in paying your mortgage and you have been unable to come to an agreement with your mortgage lender with regard to payment, your mortgage lender may attempt to take you to court. This process is called a possession action. Before starting court action your mortgage lender has to do a number of things as laid out by the Financial Conduct Authority (FCA). First of all, your mortgage lender must treat…

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What happens if I can’t pay back a loan?

What happens if I can’t pay back a loan?

Lots of people take out loans for variety of reasons in the UK, and sometimes, perhaps if their circumstances change, people can have problems paying back those loans. What can I do if I can’t pay back my loan? The first thing you should do is talk to your lender as soon as possible. In doing so you may be able to arrange a better repayment plan that you can afford and it may not…

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What happens if I can’t pay my gas, electricity or phone bills?

What happens if I can’t pay my gas, electricity or phone bills?

What happens if I don’t pay my gas, electricity and/or phone bills? If you don’t pay your gas, electricity or phone bills, the companies that run these utilities can disconnect you. However, they will contact you before this happens. What can I do if I can’t afford my utility bills? There are routes you can take if you are struggling to pay your utility bills.  First of all, it is highly recommended you contact the…

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What happens if I can’t pay my rent or mortgage?

What happens if I can’t pay my rent or mortgage?

If you are renting or paying a mortgage you could be evicted from your home. However, there are procedures to how this occurs. Find out more about those procedures here. What happens if I don’t pay my rent? If you fail to pay your rent and have signed a tenancy agreement then your landlord can evict you. The procedures are different depending on the type of tenancy agreement you have with your landlord. What happens…

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What happens if I can’t pay my water bill?

What happens if I can’t pay my water bill?

What can happen if I don’t pay my water bill? If you do not pay your water bill you will not have your water supply cut off by the water company as this would be against the law. However, if you have not paid your water provider is likely to go through the following procedure: Firstly, they should send reminder notices. If you have more than one unpaid water bill then you will get separate…

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What happens if I don’t pay my Council Tax bill?

What happens if I don’t pay my Council Tax bill?

If you are having problems paying your Council Tax there may be some options open to you. What can I do if I can’t pay my Council Tax bill? It is advisable to contact your local council as soon as you know you cannot pay your council tax bill.  If you are struggling to pay, you may be able to spread the payments over a longer period of time.  Also, you may qualify for a…

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What happens if I get into debt with a credit card?

What happens if I get into debt with a credit card?

If you’re over 18, and using a credit card, it’s important not to run up large debts. The charges on amounts overdue are high and can quickly spiral out of control. If you’re having problems meeting your credit card bills there are steps you can take. Avoiding the credit card debt trap Credit cards are a popular way of borrowing money because you can repay the amount you borrow in smaller amounts over a long…

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What happens if I my mortgage is in arrears?

What happens if I my mortgage is in arrears?

There are certain areas of law in which if you intend to bring a claim in court you must first follow a specific pre-action protocol. This is normally designed to ensure that both parties have clear information as to what the claim that is being considered is, and on what basis it is being brought. It is also designed to ensure that both sides are able to negotiate and perhaps even reach a compromise before…

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What happens when you become bankrupt?

What happens when you become bankrupt?

Bankruptcy is a type of court order that you can seek when you are in debt and feel you have no further alternatives to resolve your financial worries. Occasionally bankruptcy orders might be sought by your creditors to resolve ongoing financial problems, when you owe more than 750. Bankruptcy is considered a good option when the pressure of debt is weighing heavy and you feel there is no other way out. A bankruptcy order takes…

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What is ‘corporate insolvency’?

What is ‘corporate insolvency’?

Company directors should have at least a basic, general understanding of corporate insolvency law. This is particularly true when the company’s finances are under stress, as circumstances can easily arise where the directors may face personal liability for decisions they make without properly understanding their duties to creditors and the legal consequences of their action or inaction. When a company (rather than an individual or a partnership) becomes insolvent, the law provides, in effect, for…

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What is ‘going into administration’?

What is ‘going into administration’?

The process of administration is one of the possible outcomes for a company if it becomes insolvent. An administrator will be appointed to effectively run the company, try to keep it functioning as a going concern and try to ensure the creditors get a return on the money owed to them. The idea behind the process is, therefore, to rescue the company so that it continues to run as a business. Several high-profile football clubs…

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What is ‘negative equity’?

What is ‘negative equity’?

Negative equity has unfortunately become a common term used these days as a result of the economic downturn seen across the world. The term negative equity refers to when a loan is taken out to purchase an asset and then the asset depreciates in value so that the loan is actually more than the asset is currently worth. The most common example in recent times has been when individuals purchased houses with the assistance of…

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What is a charging order?

What is a charging order?

A charging order is one method of enforcing a judgment in England and Wales. It is a court order that allows a creditor (a person owed money) to secure a debt against a debtor’s home or property they own. In order to get a charging order over a property, a judge will need to be certain that the creditor is indeed owed money from the debtor and that they should be entitled to a charge…

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What is a debt management plan and how do I use one?

What is a debt management plan and how do I use one?

If you are having difficulty maintaining your monthly payments on credit cards, loans and store cards, a Debt Management Plan (DMP) may be the right solution for you.  This guide describes what a DMP is, how it works and what you should consider before applying for one. What is a Debt Management Plan? A DMP is an informal agreement between you and your creditors to repay your ‘non-priority debts,’ such as credit cards, loans and…

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What is a statutory demand for payment?

What is a statutory demand for payment?

If you are owed money, one way of getting it back is by sending a written statutory demand, which is a request for payment of a debt owed by an individual or business. The demands can be written and served without the involvement of the courts and it is considered to be the first step in making an individual bankrupt. The statutory demand will tell the debtor (the person or business that owes money): how…

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What is debt consolidation?

What is debt consolidation?

Many people owe money on multiple credit cards and loan agreements. It can be a daunting task keeping pace with them all and, if you accidentally miss payments, you can end up in financial difficulty. This is where ‘debt consolidation’ may help. A debt consolidation loan involves combining all of your debts into a single loan, so you only have to make one monthly payment. This guide explains how debt consolidation works and outlines the…

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What is my credit record and where can I see it?

What is my credit record and where can I see it?

One tool banks and other lenders use to determine whether or not to give you credit is your credit record. Your credit report or file provides potential lenders with important information about your credit history and helps them to make a proper assessment of how much of a risk lending to you will be – this is your ‘credit score.’ What information does your credit report consist of? Credit reports are compiled by three main…

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What legal protection do I have if I am in debt?

What legal protection do I have if I am in debt?

Other legal protection if you are in debt There are a number of schemes that are in place that are designed to protect you if you enter into a credit deal. These laws and regulations are there to ensure the deals are fair and those from whom you are borrowing behave reasonably during the debt collection process. What if the contract terms are unfair? Any credit deal you intend to sign should have all the…

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What problems can I have if I use a hire purchase agreement?

What problems can I have if I use a hire purchase agreement?

What is ‘hire-purchase’? ‘Hire purchase’ is a credit arrangement where you buy a product such as a car, appliance or furniture but don’t own it immediately. Instead you pay an agreed amount of money over a period of time (the hire phase) until the total amount is paid in full, where upon you then own the product. What kind of problems can occur with hire-purchase agreements? The two most common problems with hire-purchase agreements are:…

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What ways can I borrow money?

What ways can I borrow money?

Loans, overdrafts and buying on credit are all ways of borrowing. Different methods of borrowing suit different types of people and situations. Whatever type of borrowing you choose, it’s important to make sure you’ll be able to afford the repayments. Can you afford to borrow? Before deciding to borrow money it’s important to work out whether you’ll be able to repay it in the future. The Money Advice Service budget calculator will help you check…

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Where can I get advice and support on debt?

Where can I get advice and support on debt?

If you’re having difficulties settling your debts, it can be tough knowing where to turn for help and advice. However, you don’t have to use a commercial (fee-charging) debt management company. This guide is not exhaustive as there are many free, independent, confidential help and advice services across the UK. Debt help and advice is available online, over the telephone and face-to-face. National Debtline  (www.mymoneysteps.org) National Debtline offers you free online debt advice through its…

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Where can I get further help with debt counselling and advice?

Where can I get further help with debt counselling and advice?

Consumer Direct does not provide debt counselling, but can give advice when a creditor or debt collector is acting unlawfully. A number of organisations may be able to help you sort out your debt. For debt advice and information if you live in England or Wales: Citizens Advice For free advice on debt and a range of other matters, visit your nearest Citizens Advice Bureau. Look them up in your phone book or visit www.citizensadvice.org.uk…

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Which debts should I pay off first?

Which debts should I pay off first?

When you’re sorting out how to pay back your debts, you need to identify the most important ones. These are called your ‘priority debts’ and they should be settled first. Find out what priority debts are and where you can get help and advice. Priority debts The most important debts aren’t necessarily the biggest ones. Priority debts are ones where serious action can be taken against you if you don’t pay what you owe. Some…

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