Insolvency Act & Bankruptcy Services

When you are feeling “squeezed” by debts, that is the time to take advice, and getting the right advice is vital.  Whatever the circumstances you find yourself in, there are options available. The key is to recognize the problem early and to seek professional advice as soon as possible.

At Sydney Mitchell, we have extensive experience in dealing with bankruptcy and individual voluntary arrangements. We are sensitive to your needs and can help you get back on your feet quickly, and move on.

Personal Bankruptcy & Personal Insolvency

In the absence of substantial assets it may be in your best interests to be declared bankrupt. However, this is not to be considered lightly, as becoming bankrupt will have a detrimental effect on your ability to obtain finance in the future and it is possible that you could be made subject to an income payments order that can last up to 3 years.

When acting for trustees in bankruptcy and nominees, we deal with all aspects of asset recovery and possession proceedings, and are assisted by an efficient team able to sell these assets quickly and cost effectively.

Individual Voluntary Arrangement

If you have a regular income, or own a property, then bankruptcy can be avoided by entering into an Individual Voluntary Arrangement (IVA) – a proposal to repay debts over an extended period of time.

If you would like advice on Personal Insolvency and Individual Voluntary Arrangements, please contact us using our online contact form.