Debt

Duncan Lewis Litigation Solicitors – Debt

 

Duncan Lewis debt management solicitors can advise on debt solutions for limited companies, SMEs and individuals

 

Personal Debt Management

There are several legal options for tackling personal debt (credit cards, loans, mortgage arrears), including:

  • Administration Orders (for debts below £5,000, where at least one Count Court or High Court judgment has been made)
  • Bankruptcy
  • Debt Relief Order (debts below £20,000 – freezes debt for one year)
  • Full and Final Settlement Offer (offering creditor a lump sum)
  • Individual Voluntary Arrangement (freezes debts and enables debtor to repay over a period of time)
  • Writing off debt (where circumstances will most likely prevent you from ever repaying debt eg unable to work, illness).

There may also be other options to clients such as debt consolidation loans or remortgaging, depending on a client’s circumstances and level of debt.

 

However, how debt is handled can affect future financial security and options – and also has an impact on credit scores, so it is vital to take advice about debt management from Duncan Lewis as soon as possible.

 

Failing to deal with debt may result in a County Court Judgment being made against the debtor, which will set a deadline for the debt to be paid – as well as how much and when the money should be paid.

 

Corporate Debt

Duncan Lewis can also advise companies on debt solutions for business, including tackling unpaid or late invoices and charging statutory interest on outstanding commercial payments.

 

Duncan Lewis also advises on insolvency and can liaise with the Insolvency Service in investigations on behalf of a client, as well as advising on liquidation and winding up a partnership.

 

For expert legal advice on Debt, call Duncan Lewis Debt Management Solicitors on 0333 772 0409.

 


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