Bankruptcy

As well as offering advice for your distressed business we can also help you deal with your personal financial difficulties where these are related to your business activities.

Bankruptcy may be an option, this occurs when a trustee is appointed by the Court to sell your assets and distribute them to your creditors. 

For most people bankruptcy lasts for one year but the consequences of bankruptcy can stay on your credit history for longer. It is important that you understand the implications of becoming bankrupt and if there are any alternatives. But for many people it is the best option especially if you have ever growing personal debts that are spiralling out of control.  We can help you overcome these hurdles.

How can McTear Williams & Wood help?

  • We understand the pressures and can help you identify the best course of action
  • We never judge but offer impartial, independent and completely confidential advice

Other personal insolvency solutions can include informal arrangements, debt management plans or individual voluntary arrangements ("IVAs").  If you need advice in this area please do not hesitate to contact one of our specialist team who can offer you some free initial advice.