Corporate and personal, bankruptcy and liquidations
Financial pressure creates difficult choices. Whether you’re an individual facing mounting debts or a business unable to meet obligations, the uncertainty can be paralysing. At Nelsons, our insolvency solicitors cut through the complexity. We give you clarity on your options, empower you to make informed decisions, and fight for the best possible outcome. With offices across Derby, Leicester and Nottingham, we deliver expert bankruptcy and insolvency advice that puts you first.
Contact us today for expert advice. Call 0800 024 1976 or complete our online enquiry form.
Contact Us TodayRelated services
How our insolvency solicitors can help
We advise individuals, businesses and insolvency practitioners at every stage of the bankruptcy and insolvency process. Early intervention makes the difference, through proactive credit management and strategic advice, we often help clients avoid formal insolvency altogether.
Our bankruptcy and insolvency services include:
For businesses:
- Administration proceedings and advice
- Company liquidation and winding up
- Company Voluntary Arrangements (CVAs)
- Corporate restructuring and refinancing
- Disputing winding up petitions
- Law of Property Act Receivership
- Antecedent transaction claims
- Director liability and personal guarantee advice
For individuals:
- Bankruptcy proceedings and alternatives
- Individual Voluntary Arrangements (IVAs)
- Personal debt restructuring
- Creditor negotiations
For creditors:
- Debt recovery from insolvent parties
- Protection of creditor rights
- Maximising returns in administration or liquidation
- Security enforcement
For insolvency practitioners:
- Technical legal advice throughout appointments
- Litigation support
- Regulatory compliance guidance
Our bankruptcy and insolvency process
We follow a clear process that keeps you informed and in control.
Initial assessment: We listen, understand your situation, and explain your options in plain English. Whether facing personal bankruptcy, business insolvency, or acting as a creditor, you’ll leave with clarity on the way forward.- Strategic planning: We develop a tailored approach aligned to your goals—negotiating with creditors, exploring alternatives to formal proceedings, or preparing for administration. You’ll understand realistic timeframes and potential outcomes.
- Decisive action: We handle the legal complexities while you focus on what matters. From Court applications to creditor negotiations, we keep you updated at every step.
- Resolution: We achieve the best possible outcome for your situation and support you in planning beyond the immediate crisis. Time matters in bankruptcy and insolvency. Debtors face increasing restrictions; creditors risk losing recovery opportunities. Early advice maximises your chances of a positive outcome.
Why choose Nelsons for bankruptcy and insolvency advice
Recognised expertise: Decades of combined experience handling complex financial restructuring. Recommended by The Legal 500 for insolvency work. From straightforward IVAs to multi-jurisdictional corporate restructurings, we deliver results.
Empowering approach: We give you a voice. You’ll understand your options, the legal landscape, and feel confident about your decisions. No jargon, no confusion, just clear, actionable advice.
Integrated service: Financial difficulties rarely exist in isolation. Our integrated approach means comprehensive support across employment, tax, property, and family law issues. Consistent, coordinated advice across all aspects of your situation.
Proven track record: We’ve helped businesses restructure successfully, secured maximum returns for creditors, and supported individuals in rebuilding their financial lives. Strategic thinking backed by determination.
Ready to discuss your bankruptcy and insolvency concerns? Contact us today via our online enquiry form or call 0800 024 1976 for expert advice from our insolvency solicitors in Derby, Leicester or Nottingham.
Meet the team
-
Adrian SlaterPartner & Solicitor
-
Andy RudkinPartner & Solicitor
-
Craig BennettLegal Director & Solicitor
-
Hayley BrownLegal Director & Solicitor
-
Charlotte PepperdaySenior Associate & Solicitor
Testimonials…
Make an enquiry
If you wish to contact us, please complete the form below. A member of our team will be in touch as soon as possible.
When you submit this form, you are consenting to a member of our team to contact you via phone or email regarding your request.
We encourage you to review our Privacy Notice
Main Contact Form
Used on contact page
Bankruptcy and Insolvency FAQS
Below, we have answered some frequently asked questions concerning restructuring & insolvency
-
What's the difference between bankruptcy and insolvency?
Insolvency means being unable to pay debts when due. Bankruptcy is the formal legal process for dealing with personal insolvency, writing off most unsecured debts. Businesses face different procedures—administration or liquidation. Our insolvency solicitors clarify which process applies to you.
-
How long does the bankruptcy process take?
Personal bankruptcy typically lasts 12 months, after which you’re usually discharged from most debts. Some restrictions may continue longer. Company liquidation timeframes vary from several months to over a year depending on complexity. We provide realistic timeframes for your circumstances.
-
Can I avoid bankruptcy if I'm struggling with debt?
Often, yes. Alternatives include Individual Voluntary Arrangements (IVAs), debt management plans, or negotiated creditor settlements. For businesses, Company Voluntary Arrangements (CVAs) or informal restructuring may work. Early advice from our insolvency solicitors significantly improves your chances of avoiding formal bankruptcy.
-
What happens to my business if it goes into administration?
Administration aims to rescue the company or achieve better creditor results than immediate liquidation. An administrator takes control to restructure, sell the business as a going concern, or realise assets. Outcomes depend on circumstances. Our team advises on likely scenarios and helps you prepare.
-
What are my responsibilities if I'm a company director facing insolvency?
Directors owe legal duties to creditors once insolvency threatens. You must avoid wrongful trading, not prefer certain creditors, and act in creditors’ interests. Failing these duties risks personal liability. Our insolvency solicitors ensure directors understand and meet their responsibilities.
-
How quickly can creditors act to recover debts?
Rapidly. Creditors may issue statutory demands, present winding up petitions, or appoint receivers within weeks of default. If you’ve received formal demands, contact our insolvency solicitors immediately to understand your options and protect your position.
-
Will bankruptcy affect my job?
For most people, no direct employment impact. However, restrictions apply to certain professions—financial services roles, company directors, and some professional bodies. We advise on specific career implications and help navigate employment concerns during the bankruptcy process.
-
What assets will I lose in bankruptcy?
The official receiver may sell valuable assets, property, vehicles, luxury items—to pay creditors. You typically keep essential household items, tools of the trade, and reasonable personal belongings. Rules around pensions and homes are complex and depend on circumstances. Our insolvency solicitors explain what you’re likely to keep and what may be at risk.
Get in touch
Speak to us now on 0800 024 1976Email Us
