If you are in a state of financial distress, we cannot make the problem disappear but we can help you to deal with personal insolvency in a clear and pragmatic way. There are a number of procedures which can deal with the pressure of debt but, as always, the earlier you speak to our personal insolvency solicitors, the more options you may have.
We are regularly engaged by Insolvency Practitioners across Devon and beyond in matters relating to personal insolvencies. Our personal insolvency lawyers are often instructed to act on behalf of office holders to recover assets that can be realised for the benefit of creditors and can also provide expert legal advice if you are the debtor and need support yourself. If a formal insolvency process is the most suitable option, our wide-ranging experience with all kinds of personal insolvency matters and close working relationships with those practitioners enable us to put you in touch with the right professional for you.
However, we also understand that a formal insolvency process may be a last resort or the least preferable option if you are in debt. Our experienced insolvency solicitors will work you through all of the possible ways forward depending on your exact circumstances, ensuring that you feel confident as you navigate a difficult time and work towards financial recovery.
If you are a creditor, we can advise you on your options if your debtor has entered a formal insolvency process or is threatening to. We can guide you through the processes and advise you on your options, in order to maximise your recoveries whilst limiting disruption to you or your business.
Kitson Boyce’s expert personal insolvency team can be reached across our Devon offices, simply get in touch with a specific member of the team or contact us more broadly and we will put you in correspondence with the most suitable personal insolvency solicitor.
While daunting, bankruptcy is often the most suitable next step for insolvent individuals. If you are preparing to declare yourself bankrupt or have already done so, knowing what will happen next is key. Our personal insolvency solicitors can advise on the bankruptcy process and assist in cases where assets may be sold or disposed of to pay your debts.
If you are in debt, an Individual Voluntary Arrangement (IVA) may enable you to pay back your debts over an agreed set of manageable payments. At Kitson Boyce, we can assist with the preparation and application of these agreements if suitable for you.
Debt Relief Orders can relieve the financial stress of low income individuals with minimal assets. However, they have significant legal obligations which should always be explained by a qualified personal insolvency solicitor before any application is made. Our expert team can assist at all levels of this process, helping to determine eligibility and supporting the application process.
If you wish to avoid a formal insolvency process, you may be able to explore a Debt Management Arrangement in certain circumstances. This is an informal agreement between the debtor and creditor, allowing you to repay debts at a more manageable rate. Due to the informal nature of this kind of arrangement, it is advised to seek the advice of a specialist personal insolvency solicitor to ensure that your rights are protected.
Partner and Head of Dispute Resolution and Insolvency
Lauren is a Solicitor in our Dispute Resolution team
Henry is a Trainee Solicitor
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