An IVA and bankruptcy both deal with unaffordable debt in the UK, but they work in very different ways. Here is a clear, neutral look at how each affects your assets, your job, and your future.
An overdrawn director’s loan account can trigger a 33.75 percent tax charge, and the liquidator will chase it if your company becomes insolvent. Here is how the rules work and how to manage your DLA properly.
Administration and liquidation are both formal insolvency processes, but one aims to rescue a company and the other ends it. Here is the difference, and what it means for directors.
A personal guarantee can make a company director personally liable for business debt, putting their home and savings at risk. Here is what to check before signing, and what happens if you cannot pay.
A CCJ can stay on your credit file for six years and make borrowing difficult. Here is how to remove one, including settlement, set-aside applications, and what the six-year rule actually means.
A Company Voluntary Arrangement lets an insolvent company repay creditors over time while continuing to trade. Here is how the process works and whether it could suit your business.
A statutory demand gives you just 21 days to pay, negotiate, or challenge a debt before a creditor can move toward bankruptcy or winding up. Here is how it works and how to respond.
If your business lends, collects debt, or arranges consumer credit, FCA authorisation and ongoing compliance are not optional. Here is what CONC and the Consumer Duty actually require.
Wrongful trading can make a UK company director personally liable for company debts. Here is what the law says, how claims are proven, and how directors can protect themselves.
A Debt Relief Order can write off qualifying debts if you have low income and few assets. Here is who is eligible, how the process works, and how it compares to bankruptcy and an IVA.