Almost 600,000 people will be unable to refinance their debts this year after their normal lines of credit are being cut off according to a report by TDX Group. (more…)

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Possible the most spectacular showbiz/sporting bankruptcy, having spent his way through £300 million dollars, Boxer Mike Tyson filled for bankruptcy in 2003.

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In November 2005, Eubank was declared bankrupt, owing £1.3 million in taxes. This was despite having earned more than £10 million as middleweight champion in the early 1990s.

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If you’re under the threat of bankruptcy, then you’re in good company. There are some very notable figures, who have been made bankruptcy, yet achieve greatness in their lives. 

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We are coming across more and more bank employees with debt problems. If an employee of a bank cannot manage their debts properly, what hope is there for the rest of us?

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 The Hollywood star was sued for pulling out of movie - forcing her to declare herself bankrupt (more…)

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If you are you are the benefactor of a will and inherit some money or property while you are in an IVA or while an undischarged Bankrupt, your inheritance may have to be made available to your creditors to repay your debts.

It is an offense not to disclose such information to either your IVA supervisor or Trustee in Bankruptcy.

This is more relevant in the case of an IVA which normally lasts 5 years, which is longer than bankruptcy, normally lasting 12 month.

Consider getting the will changed to the name of someone not currently involved in insolvency procedures or get the money put in trust until such a time your IVA or Bankruptcy will have completed.

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