Bankruptcy

Bankruptcy Rugby

Insolvency Rugby is a branch of Licensed Insolvency Practitioners and can deal with your personal insolvency in your local area of Rugby. Many people will seek personal bankruptcy information and advice from their local citizens advice bureau and then may decide to use a company like us for bankruptcy help or advice on bankruptcy discharge.

In the case of the bankruptcy process, a bankruptcy order is made by the court on the petition of either a debtor or creditor. Once granted, the order falls within the public domain and is advertised in a local newspaper, The London Gazette and see also; Insolvency Register. The Official Receiver becomes the receiver and manager of the bankrupt’s estate following the order.

An alternative to bankruptcy is Individual Voluntary Arrangements (IVA). This is a legally binding agreement between an individual and his or her creditors. Under this procedure, a licensed insolvency practitioner is appointed as nominee to prepare a report on proposals to be put forward to creditors. An interim order is made after the court has considered the proposal and this will provide protection from creditors taking further action.

Your insolvency practitioner at Insolvency Rugby can discuss which route may be the best way forward. If you are researching bankruptcy Rugby, call us now on 0800 072 3470 as we can usually provide assistance and advice on a number of proactive measures.