Personal Insolvency & Advisory Services

At FRP Advisory we have a dedicated team of specialists who understand the financial difficulties that individuals can face, and who have the experience to help find a solution to put these debt related problems behind them.

If you are experiencing personal financial difficulties please feel free to contact us. After obtaining details of your financial situation, our specialists will be able to advise on a range of options and find an appropriate debt solution for you.

The options available include:

• Individual voluntary arrangement (IVA)
  A formal binding agreement between you and your creditors whereby the interest on the debt is frozen, and often the creditors accept a substantially reduced sum in full and final settlement of the debt. We will assist you in formulating an agreement that will be approved by the creditors and dealing with the formalities required.
  
  
• Bankruptcy
  In some circumstances bankruptcy may be the most appropriate solution. The result of bankruptcy is to release the individual of their liability to repay the debt.  All bankruptcy assets are controlled by the Trustee in bankruptcy, whose duty is to realise them and utilise the proceeds in settlement of the bankruptcy debts.
  
  
• Debt Management
  Debt consolidation, or some sort of rescheduling of your debt, may be something you have considered.  In some cases, where the debt is relatively modest, this may be the best option.  However, a debt management scheme is not legally binding on the creditors, who may be able to change their minds.  Furthermore, unlike IVAs or bankruptcy, debt management schemes may not always be supervised by regulated professionals, so there may be little recourse if things go wrong.

Contact us

Should you require any further information on any of the above, please call Charles Turner on 0203 005 4222 or Paul Atkinson on 01708 458 211, or complete and submit the online form below.