avoiding bankruptcy:
debt management and relief
Increasingly, individuals with non-business debts have alternatives to bankruptcy – some of which can be achieved without the help of Insolvency practitioners or lawyers.
Debt Relief Orders (DRO) are a voluntary arrangement and an alternative to bankruptcy for individuals with debt under a prescribed figure, who own assets under a maximum value. They’re not suitable for everyone, but can provide relief from creditors and discharge from debts for twelve months. The forms can be completed without the expense of solicitors and IPs.
Can we help? What are your insolvency options? Take our two-minute survey and brains' legal team will send you personalised advice within 24 hours (one working day; normal office hours apply).Individuals also have the option of contacting a specialist company authorised to draw up official Debt Management Plans, setting out suitable repayments to creditors over time. Again, there are conditions and a maximum debt level applies.
If you are considering either of these routes, it would be well worth completing our two-minute questionnaire, to find out whether you’re eligible… or indeed if other legal or insolvency options might provide a more cost-effective way to protect family assets and, importantly, prevent long-lasting implications for your future livelihood.