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How Bankruptcy Affects My Business

How Bankruptcy Affects My Business

You should consider the effects of bankruptcy in your business since this can cause a devastating impact on your trade. Moreover, the intensity of such effects can differ regardless of your company’s scale. So, whether your business is single ownership, partnership, or a corporation, its gravity will differ. Effects of bankruptcy as a sole trader … Read more

Bankruptcy and Insurance Policies

Bankruptcy and Insurance Policies

The details in this article are for England and, Wales and Northern Ireland residents only. Some of your insurance policies might be affected during your bankruptcy. Thus, you must need to know what will be the pros and cons before you claim going bankrupt. This is done to anticipate adverse impact and find out if … Read more

My Bank Account After Bankruptcy

My Bank Accounts After Bankruptcy

You can still get a bank account after your bankruptcy discharge. However, this will not be an ordinary account but a basic bank account. When declaring bankruptcy, your bank account is frozen if you have an overdraft debt. Since you are dealing with a bank as your creditor, it’s unlikely that they will let you … Read more

The Fees and Costs Of Bailiffs

The Fees and Costs Of Bailiffs

When creditors utilize the authority of bailiff to secure in collecting debt, its fees will be added to your debt. The costs may differ and each visitation fee will be added to your total debt amount. These are summed up to your debt on a certain period during the process of collection, which is followed … Read more

Bailiff or Enforcement Agents: Advice for Wales and England Residents

Bailiff and Enforcement Agents: Advice for Wales and England Residents

Enforcement agents or bailiffs possess legal powers in collecting debts. Some of them act on behalf of private companies, some are self-employed, while others work for the council. They collect CCJs or Court Judgements, arrears on tax council, and arrears on child support. Related Topics: Complaints on Bailiffs Negotiating with Bailiffs Dealing with Bailiffs Assets … Read more

Applying for a DRO

Applying for a DRO

DRO or what is known as debt relief order is an alternative to bankruptcy. It is a way to write off your debts if you have a low level of debt and if you possess few assets. A DRO acts or freezes your debt payments with its interests for a year. If your financial capacity … Read more

Life After Bankruptcy

Life After Bankruptcy

Bankruptcy is the last resort for people and businesses alike. Filing for bankruptcy grants you an automatic stay. This means an automatic block on your debt, which prevents your creditors from collecting payments.  What happens after bankruptcy? Your bankruptcy status normally lasts for a year. Your non-essential assets like certain properties that you own and … Read more