We do not act for trustees in bankruptcy, administrators or liquidators, i.e. insolvency practitioners to give you 100% peace of mind that there is no conflict of interests. This is our USP. Most bankruptcy and insolvency solicitors do.
We have over 20 years of helping save homes.
We have been ranked repeatedly in the legal directories as leaders in bankruptcy and insolvency defence work.
We are specialists in providing expert bankruptcy advice and help with:
Defending Bankruptcy
Setting aside statutory demands
We help setting aside statutory demands. A statutory demand states that if you do not pay your debt, the person claiming money may start bankruptcy proceedings against you to declare you bankrupt.
We challenge the statutory demand, if for example, there is a genuine dispute about the debt.
There is an 18-day time limit to apply to the court to have the demand set aside. If your application is successful, the court will set aside the statutory demand. You may also obtain a cost order in your favour. However, careful thought needs to be given before making an application to set aside a statutory demand, as if you lose, you could end up paying the creditor’s costs, increasing the overall amount you owe.
Defending bankruptcy petitions
We help dismiss bankruptcy petitions and have a strong expertise in this area.
If you are served with a statutory demand and you do not respond or pay the debt within 21 days, your creditor, known as “the petitioning creditor”, can present a bankruptcy petition against you to make you bankrupt. This results in a bankruptcy petition hearing.
We can help you defend a bankruptcy petition and explore the various technical defences you may have. It is important that you arrange representation at your bankruptcy hearing due to the danger of you being declared bankrupt.
You may lose your property and assets if a bankruptcy order is made against you and your bank accounts will be frozen.
The Official Receiver will ask you to attend an interview to investigate your finances and may appoint a trustee in bankruptcy if you are declared bankrupt. This can be an intrusive and stressful process and so expert professional advice should be sought.
We challenge the statutory demand, if for example, there is a genuine dispute about the debt.
There is an 18-day time limit to apply to the court to have the demand set aside. If your application is successful, the court will set aside the statutory demand. You may also obtain a cost order in your favour. However, careful thought needs to be given before making an application to set aside a statutory demand, as if you lose, you could end up paying the creditor’s costs, increasing the overall amount you owe.
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