Personal Insolvency

We understand that personal financial difficulties are stressful and difficult to manage for both individuals and their creditors. They impact on all aspects of life and can quickly escalate if not dealt with effectively and appropriately.

Our dedicated team of specialists are available to provide advice, guidance and support to all stakeholders.

What are the formal personal insolvency processes that we can assist with?


How We Can Assist Creditors

Bankruptcy is often the option of last resort in relation to debt recovery.

In many situations however it can be a valuable and effective procedure to repay creditors.

Our team of specialist advisors are able to utilize the extensive powers afforded to a Trustee in Bankruptcy to investigate the debtor’s complete financial circumstances, recover assets and maximize returns to creditors.

We are frequently instructed in situations where the debtor has transferred assets or sought to mask their true financial position or place assets beyond the reach of creditors-contentious insolvency situations.

With the support of our colleagues in Business Intelligence and Investigations, we are well placed to trace, protect, and recover assets for the benefit of the estate, both in the UK and overseas.

All bankruptcy cases are Trustee led, with the assistance of a senior team of experienced professionals. We endeavour to provide prompt, inciteful reporting to creditors that explains the prospects of recovery in clear concise terms

What Other Assistance Can We Provide?

  • In-house training and support
  • Pre-action asset recovery reports
  • Reviews and recommendations in relation to voluntary arrangement proposals
  • Recovery advice and support in relation to debt ledgers/personal guarantee portfolios


Voluntary Arrangements

A Voluntary Arrangement is a legally binding agreement between a debtor and creditors.

It is often used as a procedure to avoid bankruptcy and provide creditors with an optimized return.

There is no set duration and the basis of a proposal can take many forms such as monthly contributions over a set time frame, sale of property or third-party lump sum payments. It depends on what assets are available and whether the general body of creditors are inclined to support the offer.

In our experience for a voluntary arrangement to be successful both debtor and creditors need to be incentivized. Our specialists are available to explain the process, discuss the alternatives and advise what is likely to be acceptable to creditors.

A voluntary arrangement can be proposed by an Individual (IVA), a Partnership (PVA) or a Company (CVA).

Our experts available to offer advice to based on your unique set of circumstances.

Insolvent Deceased Estates

When a person dies and their estate is insolvent the Executor may not want to deal with the estate for fear of personal liability.

We find that this can often leave an estate in limbo.

A creditor of a deceased estate will still require payment.

An Insolvency Administration Order means that the administration of the estate is dealt with by a Trustee.


Why Kroll
  • We are responsive, proactive, and professional.
  • We have experience in dealing with a wide variety of businesses professions and circumstances.
  • Our dedicated, personalized services develop and maintain strong client relationships
  • We are approachable and accessible.
  • We have effective synergistic relationships with colleagues who can assist in all aspects of our work both nationally and internationally.
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Insolvency Advice

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Other Areas We Can Help

Cash Flow Management

Cash Flow Management

Working with companies to stabilize cash flow and mitigate risk.

Cash Flow Management



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