We offer a free initial interview to people needing advise on their debt position (Debt Advice Solicitor Newry)
Bankruptcy is an option for any individual who cannot pay their debts “as and when they fall due”. The Bankruptcy proceeding has two aims:
- To free the individual from the pressures of creditors (people they owe money to) to enable him or her to make a fresh start.
- To ensure that all assets (such as property and investments) are distributed fairly among the creditors.
A Brief Summary (Debt Advice Solicitor Newry)
The Courts are officially responsible for making a bankruptcy order against an individual, although this is done at the request of either the individual or one of his/her creditors.
The assets of the bankrupt individual then fall under the control of a Trustee, This will be either the Official Receiver (a civil servant and officer of the Court), or a licensed Insolvency Practitioner. Whoever is appointed becomes responsible for uncovering as much as possible about the debtor’s assets and liabilities and then maximising returns for the creditors from the assets available, within certain guidelines.
Once a bankruptcy order has been made against you your creditors can no longer pursue you for payment. Payment becomes the responsibility of the Trustee
If my you have any questions and want an immediate response please contact our Mr Kevin Neary who is happy to answer your questions by return of email to email@example.com.
Licensed to practice in both Northern Ireland and the Republic of Ireland (Debt Advice Solicitor Newry)
A vital extra dimension to all these services is that, since we are licensed to practice in both Northern Ireland and the Republic of Ireland, we are uniquely placed to advise the increasing number of businesses choosing to pursue commercial projects on both sides of the border.
Being licensed to practice in both Northern Ireland and the Republic of Ireland, we provide high-quality, all-Ireland legal services to business. Our Strategic location in the city of Newry near the border and within easy reach of Belfast and Dublin also offers obvious advantages.
Whatever your requirements then – acquisitions to restructing, from property to inward investment – our professional approach and practical advice ensure that you maximise your business opportunities while avoiding the pitfalls.
For An introductory Guide see (Debt Advice Solicitor Newry)