Massive credit card debts, mortgage payment defaults, unpaid loans....whatever your personal financial difficulties as an individual, it is a good idea to seek professional help from a highly experienced Insolvency Practitioner such as Parkin S Booth.

Insolvency is not pleasant, but it is not the end of the world.


You have two choices:

1. Bankruptcy
2. Individual Voluntary Arrangement (IVA)

Bankruptcy is simply a way to deal with debts you cannot pay.
By becoming bankrupt, you can free yourself from large debts and make a completely fresh start (subject to certain conditions). Bankruptcy ensures your assets (if any) are fairly shared out among your creditors - the people you owe money to.
In general, you can be discharged from bankruptcy after 12 months.
At Parkin S Booth, our licensed insolvency practitioners will be happy to advise you if bankruptcy would be the best course of action, or whether an Individual Voluntary Arrangement (IVA) would be more appropriate.

Individual Voluntary Arrangements (IVAs) have become a popular way to deal with the problem of large debts. An IVA is where you formally agree with your creditors to pay part or all of your debts on a monthly basis for a set period over 3 to 5 years.
An IVA is usually a less expensive option than bankruptcy and is more appropriate if you have major assets such as property. You have a say in how your assets are dealt with and how you repay your creditors. You also avoid the various restrictions of bankruptcy.
To take out an IVA, you must appoint an authorised insolvency practitioner such as Parkin S Booth, where we can act as your dedicated partner. You will find our rates highly competitive. Contact us today for free advice with no obligation.
You can find further details about IVAs at: www.insolvency.gov.uk

At Parkin S Booth we are here to help. Contact us today for a free confidential insolvency consultation with no obligation.