Insolvency Articles

1). Potential Implications of Insolvency for Directors By : pete arkwright
Here is a note of the issues that a director of an insolvent company or potentially insolvent company has to take into account. The relevant legislation is primarily contained in the Insolvency Act 1986 (the "Act"). Definition of Insolvency - Section 123 of the Act states that a company is "unable to pay its debts" (i.e. it is insolvent) when the company is unable to meet its debts as and when they fall due.
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2). Debt Settlement & Income Taxes – What You Need To Know By : Charles Phelan
Debt settlement has become a popular approach to resolving problem debts without having to file bankruptcy. With this approach, creditors agree to accept a portion of what you owe (usually around 50% or less) to settle the account, and the remaining balance is forgiven. This technique will certainly continue to grow in popularity now that the new bankruptcy law makes it tougher to fully discharge debts in a Chapter 7 bankruptcy.
Article Related to: debt settlement, income tax, insolvency

4). Will New Bankruptcy Laws Benefit You? By : J Shipper
There are 2 sides to the changes in bankruptcy rules. It will be a lot harder to file bankruptcy under chapter 7 and get a totally clean slate. For businesses, relying on issuing credit, the new personal bankruptcy law is doing great, reducing personal bankruptcy claims from the thousands to double digits.(In the short run). However, lawyers working.
Article Related to: bankruptcy, credit, insolvency

5). Bankruptcy – Not For The Faint Hearted By : Lucy Bartlett
Inability or impairment of ability of individuals or organisations to pay off their creditors is known as bankruptcy. Normally individuals and business establishments initiate the process of bankruptcy but sometimes a group of creditors can ask for a declared state of bankruptcy in order to recover money owed to them. The law of bankruptcy serves the.
Article Related to: bankruptcy, iva, insolvency, debt, debt relief

6). Credit Debt Consolidation, Are We All Sitting On A Time Bomb Waiting To Explode? By : Stephen Morgan
Are we all sitting on a debt mountain that is waiting to explode? Are we all secretly trying to avoid the fact that as each day goes by we owe more and more?
Article Related to: debt consolidation, debt consolidation services, insolvency, bankruptcy

7). Is It True; Is Our Society Now Bankrupt? By : Stephen Morgan
OK perhaps the above headline might be accused as being slightly on the sensationalist side of things but go with me slightly as I explain my reasoning and the logic behind such a potentially controversial headline.
Article Related to: debt consolidation, debt consolidation services, insolvency, bankruptcy

8). It Is Money That You Owe Them Not Your Life By : Stephen Morgan
There is no doubt about this area of debt consolidation and collection that it is indeed most controversial. Where and how does a legitimate well managed debt programme slide into the murky world of illegitimate threats and debt harassment?
Article Related to: debt consolidation, debt consolidation services, insolvency, bankruptcy

9). Abuse Of Bank Charges, Is This Legalised Robbery? By : Stephen Morgan
We have all received from time to time, Bank statements that would make the sanest person howl with anger when it comes to looking at the charges some Banks charge. Are some carying this to excess?
Article Related to: debt consolidation, debt consolidation services, insolvency, bankruptcy

10). Insolvency: What It Is, And What To Do If You Have It! By : Adrian Adams
Insolvency is a term often confused with bankruptcy. Insolvency is defined as not having access to enough cash to pay current bills and other financial obligations in the usual course of business.
Article Related to: insolvency

11). Why Did Northern Rock Call in the Bank of England ? By : Leslie Hardy
The rescue of Northern Rock plc by the Bank of England indicates the serious repercussions of the subprime mortgage crisis. The high levels of consumer debt are also being questioned.
Article Related to: mortgage, subprime, insolvency

12). Rise Identified In Insolvency Figures By : Abbi Rouse
The number of insolvencies applied for by British consumers is increasing, according to new figures.
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13). What Are The Criteria Required To Accept An IVA? By : Geoff Hibbert
The requirements for an IVA have changed in recent time. This is an up to date qualification list.
Article Related to: iva, ivas's, iva criteria, new iva criteria, insolvency