The UK has been having out of court, and therefore, accessible justice towards insolvency. There are many reasons that people end up as individuals, having to take this drastic action. Examples could include death in the family, serious illness, job losses and others. We wish to establish what are the main causes identified to date in their diversity?
Answers will be appreciated from both personal experience and from witnessing those from others.
I have a good idea of them but I don't know what their law say ...
For example the money is not infinite and then it may be exchanged and passed in the right hands depending about the action it will be concerN.
Thanks for your response Dominique. The law is sort of a separate issue at the moment. It is al least written. But the issues we are not certain of is what triggers the person to end up seeking to invoke the insolvency route itself. The examples I have hazarded would be for instance a death in the family that exhausts family resources to such a level that the affected individual invoking the insolvency laws with all the provisions it contains. The law then proscribes how an insolvency matter is dealt with outside the court processes and also defines insolvency, which is quite definite unless lawyers pick issue with its characterisation and fir with the definition - given the facts. So, this is more of a factual rather than a legal question.
We are looking to the most prevalent events that precede an individual deciding to seek insolvency through the law, regardless of what the law is.
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