Gatwick Debt & Insolvency Solutions (Crawley)

I am happy to provide free and impartial advice, without any obligation, on any debt-related concerns you may have, including if you are considering bankruptcy, threatened with bankruptcy, already bankrupt, or being adversely affected by someone else's bankruptcy.

I can help if you can see possible debt problems on the horizon; prevention is better than cure. 

I am a totally independent debt specialist and my solutions are all tailor-made to each individual client and to their specific problems.

Please call me before making firm commitments or potentially life-changing decisions, or even if you've made decisions and are unhappy with the results!!

If you are worried about the cost of the call, I will gladly call you back.

I understand the stress, anxiety and uncertainty debt problems bring, especially when struggling to deal with creditors, bailiffs, collectors, endless telephone calls & threatening letters, and unfamiliar Court documents.

I have a wealth of relevant experience and your best interests are my only concern. My background is in debt recovery and legal work and I now help vulnerable people recover from debt and insolvency difficulties.

I am a totally independent debt specialist and I act solely in my clients’ best interests to help them permanently resolve their debt problems with minimum impact.

I can call upon the advice and services of a carefully selected and monitored panel of accountants, solicitors, lenders, Insolvency Practitioners and business experts.

Every debt problem has a correct and personal solution; not always the quickest or easiest solution, not what’s best for the creditors, but the right solution for you.

All my advice is free & impartial and my solutions are tailor-made to each individual. You have nothing to lose by talking to me before making any firm commitments or life-changing decisions, and I assure you that if there is a simple solution I will point you to it.

I can help if you are considering bankruptcy, being threatened with bankruptcy, already bankrupt, or being adversely affected by someone else's bankruptcy.

I can also help with difficulties faced by small traders, sole traders, partnerships and directors of failed or failing companies.

MOST IMPORTANTLY, PLEASE - DON’T PANIC, GIVE UP,  MAKE YOURSELF ILL WITH WORRY, OR BURY YOUR HEAD IN THE SAND

Debt Relief Orders are intended to provide a simple, cheap & quick alternative to Bankruptcy and can be used where

• The debtor is unable to pay his/her debts

• The debtor’s total unsecured liabilities do not exceed £15,000

• The debtor’s total gross assets do not exceed £300

• The debtor’s disposable income, following deduction of normal household expenses, does not exceed £50 per month.

• The debtor is domiciled in England or Wales, or in the last 3 years has been resident or carrying on business in England or Wales.

• The debtor has not previously been subject to a DRO within the last 6 years.

• The debtor is not involved in another formal insolvency procedure at the time of application for a DRO

• For further information on the procedure, implications & pitfalls of a DRO, please see the links section above
  

Although it effectively writes off all your existing unsecured debts, Bankruptcy can have some very serious consequences. Bankruptcy can result in loss of assets, limitations on your future activities, and can affect friends and family. 

Always take proper advice on the advantages and disadvantages of bankruptcy from someone you are sure knows what they are talking about, not from someone you know who’s been through a bankruptcy themselves because their experience will probably be completely different to yours even though your circumstances may appear quite similar.

Having said that, for some people bankruptcy is exactly the right solution. I don’t charge for simple bankruptcy advice and am happy to help with the procedures and forms. I do not misuse the threat of bankruptcy and its consequences to push people towards un-necessary and expensive debt solutions like some providers will.

Bankruptcy deals with unsecured debts (excluding student loans, CSA arrears, and fines). It does not deal with mortgages and other secured borrowings, although it may have an impact on them, and is therefore not a solution to repossession proceedings. This is a separate issue which I can also advise you on.

The single most important reason to avoid bankruptcy if at all possible is where it is likely to impact on your friends and family. This usually occurs where you have made a “preference” or a “transaction at an under-value”.  These are extremely complex issues and I am happy to give specific advice on the telephone, but basically if you dispose of any property, vehicle or asset for less that its true market value, or if you pay any creditor in preference to your other creditors, you will have committed an insolvency offence and the Official Receiver or Trustee will do whatever they can to recover the funds from those who have benefitted. This can include bankruptcy proceedings against those people if they fail to co-operate.

If the Official Receiver believes that he can realise over £3,000 from your bankruptcy,  he will appoint a Trustee  to dispose of your assets, obtain monthly payments from you  and thoroughly investigate your affairs, during which time very substantial costs can build up.

Bankruptcy is also best avoided if possible where debts have arisen as the result of drug-taking or gambling , where money has been borrowed knowing that it could not be repaid, or where fraudulent applications for credit have been made.

If the Official Receiver feels that you are responsible for your own indebtedness or that insolvency offences have been committed, this can result in a Bankruptcy Restriction Order of anything up to 15 years and, in extreme cases, in criminal proceedings.

It does not include normal domestic effects, tools of trade and pensions (bankruptcies after 2000), however property, investments, vehicles, luxury items, valuable items, and any surplus income as defined by the Official Receiver can certainly be at very significant risk.

Any bank accounts you hold will be closed and alternative banking facilities can be very hard to find. 

Your employer may become aware of the bankruptcy through a change in your tax code.

The bankruptcy will remain on your credit file for six years and this can make it difficult, for example, to obtain rented accommodation, or may mean that you have to provide a much larger deposit or guarantees from third parties in order to secure a tenancy agreement.

It is possible to continue trading after a fashion in certain businesses, although clearly if you rely on lines of credit from suppliers, or lease vehicles or premises then trading will almost certainly be impossible.You cannot be a director of any limited company or trade in any name other than your own.

You cannot apply for credit of more that £500 without informing the lender of your bankruptcy.

Individual Voluntary Arrangements (IVA’s) deal with personal debts and offer a formalised alternative to bankruptcy and its consequences, binding your unsecured creditors and putting an end to any legal action.  Unfortunately, their reputation has been tarnished by mis-selling on the part of the so-called “IVA factories”, but with thorough preparation and after-care they are still a most potent tool for dealing with debt problems. My panel of experts includes some of the most experienced Insolvency Practitioners in terms of both personal and corporate debt solutions.

Informal Arrangements are normally based on a lump sum payment, often from a third party (perhaps a relative), settling debts for an equitable percentage of what’s outstanding by preparing a candid assessment of the client’s circumstances to persuade the creditors to make a commercial decision. Nowhere near as potent as an IVA, but can work well in the right circumstances.

Negotiation / Mediation Services   usually involve arranging instalment payments or lump sum settlements with single creditors and can resolve disputes, deal with legal proceedings, or avoid them altogether reducing time spent and inconvenience both on the part of the client and the creditor. Particularly effective with trade creditors, Trustees or Liquidators, IVA Supervisors, & mortgage shortfall claims. My panel of experts includes experienced, professional mediators.

Debt Management Plans are only a temporary solution in my experience, but can be used most effectively to prevent creditor action while a better long-term solution is being formulated and put in place. I can put you in touch with reputable providers.

Compensation Claims Your borrowings can be analyzed by a specialist legal team and, although most companies offering this service require a large up-front fee; my provider does not charge anything up-front, they only get paid when they get results. Please click on the "No Win No Fee Claims" tab above for more information.

Accountancy Services are required where a taxpayer is non-compliant i.e. fails to submit the required returns for self-assessment, VAT or PAYE/NIC, and ultimately HM Revenue & Customs will pursue bankruptcy action against the taxpayer based on their determinations (estimated figures). I have experts who can deal quickly and efficiently with simple issues and accountants who can deal with more complex matters.

Corporate Services Company Voluntary Arrangements (CVA’s), Administration, Liquidation, Striking Off. I will talk / meet with any potential corporate client and assess realitically whether they can trade through their difficulties, and discuss what protective measures could be put in place to achieve that, and if not, to discuss their options as regards cessation of business. I then invite them to attend a meeting with an Insolvency Practitioner and where required other specialist service providers, to discuss the most viable solution.

Debt Recovery If your debt problems are being caused or made worse by slow or non-payment of monies owed to you, I can refer you to a highly experienced debt recovery agent, who will advise you honestly and without charge regarding the various options and whether your claim is recoverable / cost-effective to pursue.

Legal Services  I can assist clients with preparation for hearings in the County Court, Bankruptcy Court, and Magistrates’ Court, and arrange legal representation when required, primarily to delay creditors’ actions, agree accounts with HMRC, and gain time to put a debt solution in place.

Funding can of course be difficult to find in a debt situation, especially in the current lending climate, but a panel of specialist brokers and lenders ensures that there are usually options available, whether for raising finance against a property or assets, or for vehicle finance.

A comprehensive utilities review could significantly reduce your outgoings and make your debt solution more affordable / reduce the term over which you are repaying your debts.

Annulment of Bankruptcy Orders is extremely complicated and very few people have the necessary expertise. An application can only be made on the grounds that an Order ought not to have been made, if an IVA has been put in place as an alternative to the bankruptcy, or where all the bankrupt’s debts, costs and interest have been paid in full. It is best to act extremely quickly and preferably before a Trustee is appointed as his fees can drastically increase the amount required to annul the Bankruptcy Order. I have experts in this field.

Trust Deeds (Scotland) The Scottish alternative to long term debt problems /insolvency. Trust Deeds offer significant advatages and, although on rare occasions they are rejected by the creditors, my specialist provider is happy to review your suitability and the likely reactions of your particular creditors.