Bankruptcy Lawyers in London

Bankruptcy, or the risk of becoming bankrupt, is an incredibly concerning situation. If these are your circumstances, you are likely to be feeling stressed and wondering what your options are moving forwards. When you are struggling with this situation, our specialist bankruptcy lawyers in London can help.

If you have been made bankrupt, it’s important that you understand your legal obligations, as failing to adhere to certain rules could negatively impact your future. Equally, if you are struggling with debts, there may be options available that can help you avoid bankruptcy, repaying your debts over time, and eventually recovering your financial situation.

At Isadore Goldman, our bankruptcy lawyers in London have ample experience in offering personal insolvency advice. If you are bankrupt, or your loved one has become bankrupt, we can offer bespoke assistance, including:

Legal advice on bankruptcy, including the restrictions and obligations that apply when going through bankruptcy
The potential alternatives to bankruptcy, such as Individual Voluntary Arrangements and Debt Relief Orders
Legal support for those whose spouses or partners are going through bankruptcy
The potential of an annulment application

Ready to speak to our London bankruptcy lawyers?

To speak to our team contact your local Isadore Goldman office in London Norwich or Portsmouth. Our experts in insolvency law are able to assist clients in-person, or online, depending on your preferences.

Why choose our bankruptcy solicitors in London?

At Isadore Goldman, our solicitors are independently recognised for their expertise, with recommendations in the leading client guides the Legal 500 and Chambers & Partners.

We pride ourselves on offering a friendly and tailor-made legal service, catered to your specific needs. Our solicitors will ensure that you understand your options, and the obligations of any processes, prior to moving forward.

As a dedicated insolvency law firm, we have many years of experience dealing with all different types of bankruptcy cases, including those more complex. At Isadore Goldman we provide specialist advice to bankrupts and their partners or spouses, as we as providing legal advice for insolvency practitioners and creditors.

When you choose our London bankruptcy lawyers, you’ll receive practical advice about all of the options at your disposal, allowing you to move forward with confidence. We appreciate that bankruptcy is a huge decision, yet if the option is right for you, our solicitors will ensure that you understand what the process will involve and what to expect.

How our bankruptcy solicitors in London can help

Bankruptcy legal advice

If you have been made bankrupt, you will likely benefit from practical and legal advice tailored to your situation. Our bankruptcy solicitors in London can ensure that you understand the obligations that you have to your Trustee.

Bankrupts must cooperate with their Trustee following bankruptcy in order to be discharged after one year. Whilst bankrupt, you must adhere to certain restriction. For example, you will not be eligible to borrow money unless you inform the lender of your bankruptcy, nor will you be permitted to run a business.

As well as providing legal advice for bankrupts we can also provide advice to insolvency practitioners or creditors who are pursuing bankruptcy proceedings against an individual.

Individual Voluntary Arrangement

An Individual Voluntary Arrangement (IVA) refers to a legal agreement which facilitates an arrangement between a debtor and their creditors. It means that an individual who is struggling with debt can repay their debts over a set time frame.

At Isadore Goldman we can offer expert legal recommendations, including the implications of an IVA and assessing whether this is the right option for your situation. Where an IVA is appropriate, our bankruptcy lawyers in London can guide you through the entire process, helping you to protect your interests, legally and financially.

Debt Relief Orders

A Debt Relief Order can assist individuals to avoid bankruptcy, providing a manageable way to repay their debts over a period of time.

If you meet the eligibility criteria, our solicitors can provide all the information you’ll need, and guide you through the process, whilst protecting your legal interests.

Informal agreement with creditors

Where appropriate to the situation, we can assist you to create an informal agreement with your creditors, with the aim of helping you to avoid a formal insolvency process, or bankruptcy. Additionally, we can assist you to negotiate with your creditors.

Equally, if you are creditor who needs assistance to negotiate an agreement with a debtor, we can help you to do so, whilst safeguarding your interests.

Debt Respite Scheme

The Debt Respite Scheme is a programme that legally protects individuals in debt. Under the scheme, if eligible, you’ll receive 60 days of protection.

To start the Debt Respite Scheme, you’ll need to contact a debt advice provider. Our solicitors can help you to do this, as well as providing information about your long-term options.

We appreciate that approaching personal insolvency can feel incredibly stressful. Rest assured, our bankruptcy lawyers in London will ensure that you understand the processes to come, and help you to manage the situation in the best possible way, according to your circumstances.

Assistance for spouses or partners

If your spouse or partner is going through bankruptcy, you may well need legal assistance to protect your own financial and legal interests.

Our bankruptcy solicitors in London can provide expert legal advice, and explain your rights and obligations. We can assist you to review shared assets or debts and help you to minimise the impact that your partner’s bankruptcy has on you.

We can help in a range of ways, whether that’s negotiation with creditors, identifying exemptions, and or establishing your liabilities.

Annulment applications

Where you have already been declared bankrupt, you may have the option to annul your bankruptcy, under certain circumstances.

For example, you may be able to make an annulment application to cancel your bankruptcy if you have reason to believe your bankruptcy order shouldn’t have been made. You may also be eligible for an annulment if you have the funds to pay your bankruptcy debts, or a friend or family member who can pay on your behalf.

To learn more about annulment applications, our expert insolvency solicitors at Isadore Goldman can help.

Our bankruptcy solicitors legal fees

At Isadore Goldman, we know that clients need to understand their legal fees from the very beginning, in order to adequately manage their finances.

On assessing your case, we will provide an accurate estimate of what you can expect to pay, and whether we will be able to offer fixed fees, or an hourly rate.

We are committed to providing a cost-efficient legal service that well reflects our outstanding quality. To discuss your estimated fees today, please contact us at Isadore Goldman.