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I was facing some uncertainty regarding my bankruptcy and needed advice on what steps to take before moving out of the UK permanently. I reached out to Faith Legal Services, and Sean was incredibly helpful in answering all my questions and addressing my concerns. His kindness and expertise gave me the confidence I needed to move forward with my situation. Thank you, Faith Legal Services, for your excellent service!
Borrowing against a property to stop a bankruptcy order
If you’re struggling with debt, filing for bankruptcy may seem like a tempting option. However, before you consider this drastic step, it’s important to understand the financial benefits of clearing your debts before a bankruptcy order is granted. Home owners with sufficient equity will find it hard to obtain monies from conventional lenders. We atMarch 23, 2023
A short Summary re setting aside a CCJ
A County Court Judgement is a Court Order for you to pay a debt. It is possible to have a CCJ set aside if you have a good reason. Setting aside a CCJ, cancels the Judgement but does not mean the debt disappears or that any Court action stops. In setting aside a Judgement, thisMarch 9, 2023
Insolvency/Bankruptcy Lawyer: When You Might Need One
Insolvency/Bankruptcy Lawyer: When You Might Need One If you’re facing financial difficulties, you may be considering bankruptcy or other forms of insolvency. While these options can provide relief from debt, they can also be complex and confusing. That’s where an insolvency/bankruptcy lawyer comes in. In this article, we’ll explore when you might need an insolvencyMarch 1, 2023
Liaising with HMRC : What You Need to Know
Liaising with HMRC: What You Need to Know If you’re a business owner, self-employed or an individual who pays taxes, you’ll have to communicate with HM Revenue and Customs (HMRC) at some point. The communication process can seem daunting, but with the right approach, it can be easy and straightforward. This article will provide youMarch 1, 2023
Making and Serving a Statutory Demand
Creditors may consider serving an statutory demand on the debtor when it is apparent that the debtor is dissatisfied by the delayed payment due to the debtor. Statutory demands are quick, efficient and cost-effective way to collect a debt to a debtor. If debts are over the PS750 threshold the statutory demand is usually used as theMarch 1, 2023
What is a Statutory Demand? A statute of demand is a letter sent by a creditor to the debtor. It indicates that the creditor will start making an effort to make the debtor insolvent until the debt is paid in full or an arrangement has been agreed to pay in installments. Statutory demands aren’t an optionMarch 1, 2023
What can I do to prevent a winding-up petition from resulting in liquidation by force?
In the event that one of your creditors filed a winding-up petition You must be quick to stop your business from being liquidated for force. A compulsory liquidation signifies that it will shut the business permanently and will lead to a thorough investigation conducted by the Insolvency Service into your conduct as director. There are ways toMarch 1, 2023
What is the Winding Up Petition Procedure?
If you’re a creditor of a business (i.e. the company owes you money) and you’ve tried everything in order to force the company pay the debt you, it’s possible to wind it up on the ground that it isn’t able to pay its obligations. Given the seriousness of the consequences the procedure should be considered only asMarch 1, 2023
Legal practice areas Insolvency law and restructuring
Legal practice areas Insolvency law and restructuring Restructuring and insolvency lawyers are lawyers who act on behalf of their clients (either corporations or individuals) with financial issues. Restructuring is typically the first step in reaching an agreement with creditors to pay back the debt without the client being insolvent. What are the responsibilities of lawyers whoMarch 1, 2023
Director Disqualification: Understanding the Process
Director Disqualification: Understanding the Process As a company director, you have several legal duties, including acting in the best interests of the company and its shareholders, maintaining accurate financial records, and filing accounts and tax returns on time. Failing to meet these duties can result in director disqualification, which can have serious implications for yourMarch 1, 2023