"There was a lot of other stressful issues going on in my life at the time of the bankruptcy and I have to say without Stuart’s advice and help I don’t think I would have gotten through it as well as I have. I cannot thank Oakdale enough. I would recommend them very highly."

8 Myths About Debt Part 1

Understanding IVAs, Creditor Rights and Bailiff Action

Myth 1 – You’re alone

Research by R3 (Association of Business Recovery Professionals) suggests that there were around 574,000 people who had contacted their creditors informally about their debts, and a staggering 961,000 individuals who are struggling but have not sought help.

You are anything but alone! Here at Oakdale we have experienced compassionate advisors who are available to listen to your unforeseen financial predicament.

Myth 2 – An IVA can write off up to 90% of your debt

A significant proportion of debt can be written off in an IVA, however the average is closer to 50% and the highest is closer to 75%. These figures tend to relate to non home owners and for home owners the terms of the IVA usually stipulate a release of equity from the property in year 4 or 5. To release this equity you may be required to remortgage or obtain a secured loan on your property. The phrase “out of the frying pan and into the fire” comes to mind!

Myth 3 – Creditors can send in the bailiffs at the drop of a hat

Self Employed and Sole Trader Debt Advice

By H10 Marketing • August 7, 2018
Self-Employed and Sole Trader Debt Advice Personal Insolvency Advice for Individuals in Liverpool and Merseyside Are you a sole trader struggling with debt? You may be a self-employed tradesperson, such as a builder, plumber or electrician, who has difficulties paying your supplier. You may work for yourself as a graphic design artist, a consultant or other speciali..

Oakdale Insolvency Services Ltd

By H10 Marketing • August 7, 2018
Corporate and Individual Insolvency Support Services from Oakdale Insolvency Corporate Insolvency and Individual Debt Advice in Liverpool and Merseyside Have you had a change in business circumstances? Are you experiencing financial pressures as a business? Bank closing in, suppliers demanding payments, HMRC payments falling behind or cash flow issues? Maybe you ar..

“You must be really busy?”

By H10 Marketing • February 18, 2014
How To Cope With Misconceptions Around Service Demand Access Debt Advice Early to Maximise Your Options Over recent years many people have said “you must be really busy.” Our answer to this justifiable assumption has always been: “We are steady, however the industry as a whole is the quietest it’s been for seven years” When the recession began back in 2008 credi..

“The Truth! What Creditors Can And Can’t Do!”

By H10 Marketing • January 10, 2014
What Pressure can Creditors apply when Collecting Debts? Understanding Debtor Rights and the Extent of Creditor Action After the festive period, January and February tend to be tough months for anyone in debt. It is also when creditors increase their pressure and up the ante when pursuing debtors. Therefore, we have decided to set the record straight and dispel the myth..

8 Myths About Debt Part 2

By H10 Marketing • March 1, 2013
Myth Busting Common Debt Misconceptions - Part 2 Understanding Personal Risk and the Implications of Becoming Bankrupt Myth 5 – You will lose your property if you become bankrupt It is a common misconception that you lose your property in bankruptcy. The asset within any property is the “equity”. This is the value of your property minus what is owed on the mortgage. ..

Swallow your Pride and Create Peace of Mind!

By H10 Marketing • January 8, 2013
Taking the First Step to Access Debt Support Immediate Debt Advice Can Protect You From Legal Action Within our modern western world, we are all living in a status driven society. Within every social circle, regardless of class, the perception of others is more valuable than ever. Our powerful media has a great amount of influence on our daily lives, our behaviors, our ..
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