Expert insolvency advice from Ison Harrison

Whilst Winding up & Bankruptcy Petitions are not strictly enforcement methods, they are often used by creditors and are a very good way of separating the “won’t pay debtors” from the “can’t pay debtors”.

Both Winding up and Bankruptcy Petitions can only be presented if your debt (including any costs) is greater than £750.00 and must not be used if the debt is disputed.  The cost consequences of presenting a Bankruptcy or Winding up Petition for a debt that is disputed can be substantial.