Am I insolvent?
The answer is probably YES, if any of these sound like you....
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Stage 1
I'm struggling to keep up with the payments on my credit cards.
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Stage 2
I've maxed out all my credit cards and I can't afford to repay them.
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Stage 3
I'm scared to open letters from my bank or credit card companies.
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Stage 4
I've received calls and/or letters from debt collection agencies.
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Stage 5
I've had a County Court Judgement or decree made against me.
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Stage 6
My creditors have petitioned for my bankruptcy.

A person is insolvent if he or she is unable to pay their debts when they become due.
Your first course of action should be to seek professional advice. The fact that you're here reading this is a good start. Whether you're at stage 1 or stage 6 we can still offer advice, but the earlier you contact us, the more options we will have.
- We can offer a FREE confidential consultation to discuss your options
Personal Insolvency Options
Option 1
Individual Voluntary Arrangement
IVA.
- An Individual Voluntary Arrangement ("IVA") is an alternative to personal bankruptcy, which is a legally binding agreement between the individual and his/her creditors, which involves adhering to a repayment schedule (usually) over 5 years.
An IVA allows the individual to avoid bankruptcy provided the debtor meets creditors' requirements (pursuant to the IVA) through regular repayments and a final recovery of a percentage of the total sum owed.
Remote option available
Option 2
Assisted Bankruptcy
Bankruptcy.
- Bankruptcy is one way of dealing with debts, which you are unable to pay.
Bankruptcy proceedings free you from overwhelming debts, subject to some restrictions; and make sure your assets are shared out fairly among your creditors.
Anyone can go bankrupt, including individual members of a partnership.
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