The Insolvency Act has been amended to give breathing space to those in the insolvency zone:

  1. Negotiate with creditors for individual Insolvency Arrangements to avoid bankruptcy.
  2. Get assistance from the nominee for restructuring debt payment with the court’s consent as an alternative to bankruptcy.
  3. Submit details of assets and liabilities once adjudged bankruptcy for 3-5 years automatic discharge.
  4. Bankrupt with mental illness and those above 70 years of age can request for discharge.

For details please contact us.