Individuals

Solutions for Individuals


If you have personal debts that you’re struggling to cope with it may appear as though there is no solution. Lenders main interest is, naturally, to recover their money and it can seem like nobody is on your side.

We are happy to advise on the best option for you which may be achieving a clean slate via a Debt Relief Order or Bankruptcy, or coming to a sensible agreement, usually including a write off of some of your debts, via an Individual Voluntary Arrangement, or IVA.

We will work with you and, as much as you need it, hold your hand through whichever process you choose in order to make it as painless as possible.

Contact Steve Ford, our Licensed Insolvency Practitioner, directly on 07718 133 927 for free, confidential advice. Alternatively you can complete this contact form and Steve will give you a call back ASAP.

We’re here to help.
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Bankruptcy

Whilst personal Bankruptcy is obviously not something that anyone aspires to, it can actually offer a welcome relief to those who are struggling with debts which they have no realistic possibility of repaying.

As an experienced, Licensed Insolvency Practitioner who has acted as Trustee in Bankruptcy and given advice to hundreds of individuals, Steve Ford of S P Ford & Co. is well positioned to advise on the advantages and disadvantages of Bankruptcy.

There are many myths about bankruptcy, and many people will have their own opinions about what it really means often based on what they themselves have heard from a friend of a friend.

Some helpful facts include:

  • In the vast majority of situations you will not lose your job as a result of bankruptcy
  • You will not go to prison as a result of not being able to repay your debts
  • You will not be forced to sell your house unless you have significant equity – even then negotiation may be possible
  • You will be able to rebuild your credit rating in the future, post bankruptcy
If you would like to discuss the option of Bankruptcy, or alternatives such as the IVA, with Steve Ford then please call 07718 133 927 to send an email enquiry.

Based in Lutterworth, Leicestershire, in the Midlands, and with meeting facilities in Leicester, Northampton, London, Bristol, Manchester and Leeds we are happy to meet with you at your convenience if we feel that we can be of assistance.

Individual Voluntary Arrangement – IVA

An Individual Voluntary Arrangement, or IVA, is a means by which an individual can negotiate a fair, legally binding deal with his or her creditors for repayment of debts which may otherwise be impossible.

With the help of a Licensed Insolvency Practitioner such as Steve Ford of S P Ford & Co, your creditors, may be willing to accept a Proposal which restructures, and in certain circumstances reduces, your debts.

Entering into an IVA is a serious commitment and should not be entered into lightly.  Fees will be chargeable within the IVA and should be discussed with the Insolvency Practitioner prior to making any formal Proposal to creditors.

If you would like to find out more please contact Steve Ford on 07718 133927 or via this enquiry form for a free, no commitment conversation.

We are based in Leicestershire, in the Midlands, but are also happy to travel further afield if we think we will be able to be of assistance.
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Happy lady customer speaking on phone

Debt Relief Order

A Debt Relief Order, or DRO, is a relatively new method, introduced in 2009, by which an individual can look to write off debt which they would otherwise have no realistic possibility of repaying.

A DRO is designed to be a cheaper alternative to bankruptcy.

In order to apply for a DRO you must fulfil the following criteria:

• Debts of less than £15,000
• Unable to repay your debts
• Disposable monthly income of no more than £50
• Total assets not exceeding £300, except for a car which may be worth up to £1,000

Application for a DRO can only be made via certain, typically not for profit, organisations. A full list of these can be obtained by clicking on the following link:


If you have debt problems but do not meet the criteria for a DRO, please feel free to contact Steve Ford of S P Ford & Co.no commitment conversation.
For advice and solutions for individuals struggling with finances, 
contact S P Ford & Co Ltd on:
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