Personal Debt Solutions
Keenan CF are Northern Ireland’s Leading Personal Insolvency specialists with a dedicated team providing expert advice to both individuals and creditors
Our dedicated Personal Insolvency team are aware of the stress and concern that dealing with debt can cause and we can lead you through a process that is best suited to your needs as an individual or a creditor.
Our experience for individuals is that personal circumstances are never the same. All options to resolve debt issues must be considered to ensure that we choose the best option that is right for you. A secure, debt free future is what we all want to achieve and we can help you get to this stage where the future is a positive one.
We have also worked on behalf of major creditors in bankruptcy cases ensuring that there is the required oversight and scrutiny into bankruptcy estates where assets may have been put beyond the reach of creditors. We respect the bankruptcy system and realise that bankrupts should be held to account if their conduct is below the required standard.
I need insolvency advice
Individual Voluntary Arrangement
An IVA (Individual Voluntary Arrangement) is an alternative way of dealing with personal debt as an alternative to bankruptcy. In situations where the pressure from creditors is unmanageable we can advise on whether a formal IVA is a feasible option which acts in your own best interests and that of your creditors.
With this arrangement it may be possible to settle amounts due to all creditors at an agreed discounted level and can be financed by way of monthly payments over a period of time or by the introduction of ‘lump sum’ payments to fund the proposal.
An IVA allows you to take control of your debt by proposing a settlement to your creditors which, if agreed, is legally binding for all those you owe money to. An IVA protects you from creditors who are owed sums at the date of the IVA and makes your debt more manageable.
Our dedicated team understand the stress that dealing with debt can have and use their knowledge and expertise to guide you through the process to achieve the desired outcome for you. We can give you confidential expert advice through an initial meeting to see what the right solution is for you.
Bankruptcy – Doing It Yourself
There has been a growing trend in recent years of ‘self-petitioning’ which is a mechanism by which individuals can make themselves bankrupt. The forms to do this can be obtained online through the NI Insolvency Service website.
However, we can help ease the process of making yourself bankrupt by providing assistance with completion of forms, organising a solicitor to appear in Court on your behalf and can attend your interview with the Insolvency Service if required. These are all major steps in alleviating the pressure and stress which comes with making yourself bankrupt.
Trustee In Bankruptcy
Our vast experience in acting for major creditors in bankruptcy cases has resulted in our Personal Insolvency team set themselves apart from other firms in the sector.
We have acted for major creditors in cases to seek to optimise asset value for the benefit of the bankruptcy estate and increase the dividend to unsecured creditors. This has included identifying and realising assets in foreign jurisdictions as well as in the UK that had not been disclosed by the bankrupt in their statement of affairs.
We have also in-depth experience of forensic bankruptcy investigations to overturn transactions for the benefit of creditors. In most instances these again have not been disclosed as required by the bankrupt under the legislation and we have used the Court process to recover funds for the benefit of the bankruptcy estate.