Tag: Insolvency
The 5 Steps of Company Liquidation
In today’s difficult economic climate, a large number of business owners and company directors are looking to liquidate their company or are being given few alternatives to liquidation. There isn’t an easy answer to the question regarding the overall process of liquidation as it can vary from company to company, however there are aspects of […]
The Irish Personal Insolvency Framework
Until very recently you had few options if you were resident in Ireland and struggling to repay your debts. You could become bankrupt, but that process would last for twelve years (so almost nobody did). It might have been possible to enter into a debt management plan to reduce your monthly repayments, but there was […]
Making Legal Arrangements When Planning to Declare Personal Insolvency
It’s always a wise move to explore the options available to you before you decide to declare personal insolvency. Whilst you might find that you really have no choice but to declare insolvency you will, however, generally find that there are a number of options to look into, like personal insolvency and debt settlement arrangements […]
Introduction to Debt Deals: Personal Insolvency Arrangements & Debt Settlement Arrangements
Debt settlement arrangements are contributory “debt deals” negotiated by a personal insolvency practitioner (PIP) with your unsecured creditors. Creditors aren’t obligated to accept them. You’ll have to be able to contribute towards your debts, usually from surplus monthly income but also potentially through the disposal of an asset. They will usually run for five years. […]
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