If you are an individual in financial crisis, MLG Associates can offer independent and expert advice to help you focus on the best way of dealing with your debt. There are several options available.
An Individual Voluntary Arrangement (IVA) is available to all individuals who are experiencing creditor pressure. It is a legal process which provides protection from creditors through a formal agreement for the repayment of liabilities over a period of time and is an alternative to bankruptcy.
Bankruptcy is a last resort formal insolvency process available when an individual is unable to meet their liabilities, or their liabilities outweigh their assets.
For more information on the options available and answers to some common questions regarding debt, click on the Insolvency Service link below to help you understand the most appropriate option for paying your debts. This could be through a debt management plan, an individual voluntary arrangement, an administration order or a debt relief order.
Seeking immediate expert, professional advice is critical when you are in debt. Contact us for a free initial consultation to discuss your way forward.