Personal
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As credit becomes more widely available and individuals are encouraged to become self-employed or start up their own businesses, the numbers of people getting into financial difficulties is reaching high levels. The opportunities of the "rescue culture" are also available to individuals and partnerships with individual voluntary arrangements as an alternative to bankruptcy. The firm is a key player in helping individuals and partnership to find solutions to their problems thereby avoiding bankruptcy and the resulting stigma and providing a better return to creditors. An individual voluntary arrangement is not just for businessmen, but is also available for individuals with personal, consumer and credit card debt. Getting advice earlier rather than later increases the chances of an individual voluntary arrangement being a viable alternative and is likely to be seen much more positively as a responsible attempt to face up to financial realities. If, however, bankruptcy is looming or has already happened, it may not be too late and we may still be able to assist in converting the bankruptcy to an individual voluntary arrangement if appropriate. If as a creditor you are looking to bankruptcy as a means of enforcing a debt, the firm has extensive experience in all aspects of personal insolvency and in particular in acting as trustee in bankruptcy to maximise asset recoveries for the benefit of creditors. If you wish to know more about our Recovery & reorganisation service, please contact: Alan C W Tang Alison Wong Peter Wong |
