If you’re struggling with personal debts, don’t worry. There are clear routes that we can help you utilise to take back control and clear your debt.


Anyone can find themselves with debts that they struggle to repay. At the SKSi we understand how money worries affect everyday life and our advisers can help you take control of your finances and get you back on the road to financial recovery.

We understand that facing up to financial challenges can be extremely difficult and stressful. Seeking help is not easy but, from our experience, it really is an important step in improving your financial position.

You should be reassured to know that there are options available and, with the right advice and support, you can look forward to a more financially secure future. We can help you to review your personal circumstances. We can then determine the most appropriate options for your particular circumstances.

How We Can Help

There are currently three formal insolvency procedures available to people with personal debt problems. The law makes no distinction between people with consumer credit debts (credit cards, store cards and bank loans) and those whose debts arise from their trading as a sole trader or in a partnership.

You are not bankrupt simply because you cannot pay your debts. A person is officially a bankrupt if the Court makes a Bankruptcy Order against them. It is unlikely that a person could be bankrupt without knowing it has happened, as documents telling them about the Court hearing generally have to be personally served on them, in advance.

An IVA is a binding arrangement that a person enters into with their creditors as an alternative to bankruptcy. It is similar to bankruptcy in some ways, but very different in others. Unlike in bankruptcy, the individual can choose their practitioner and put forward a deal that is most appropriate to their own circumstances. However, their offer is only likely to be acceptable if it meets certain “industry standard” expectations on the part of creditors.

In April 2009 a new process, Debt Relief Orders, became available for those persons who owe less than £15,000 and have no significant assets and nominal surplus income. Similar to bankruptcy (known in the industry as “bankruptcy lite”), DROs will bring much needed relief to those on low incomes struggling to repay their debts.

People can also enter into informal arrangements and debt management plans (DMPs) with their creditors.

No matter how your debts were incurred, everyone with debt problems face similar practical issues:

  • What will happen to my home?
  • Will I have to make a monthly payment and how will it be calculated?
  • What will happen to my bank account?
  • Will bailiffs visit my house?
  • What will be the effect on my credit rating?
  • Will my employer find out I am insolvent?
  • Can I sign my home over to my husband or wife before I go bankrupt?
  • Can I carry on running a business?

These are some of the issues you should be seeking to discuss with your professional advisers before you decide which option is best for you. It is vital that you fully understand the implications of the course of action you are being advised to take.

Please contact us for a confidential conversation about your situation and to find out more about the various options available to you. We are happy to talk over the phone or meet in person. Simply contact your nearest SKS Business Services office to arrange a free, confidential and ‘no obligation’, consultation.


With experts spread across the UK, you’ll get the best possible advice and support to help solve your issues.


We have offices all over the UK. Click below to find yours.


Barbara Gatward
Barbara GatwardJohn Gatward Packaging Ltd
Read More
"Our accounts are always dealt with in a timely manner, all submissions made efficiently, and reminders sent when action is required from us. Would not hesitate to recommend."
Sarah Fox
Sarah FoxBeckingham Place Manmagement Co
Read More
"Since taking over BPMCO's accounts, my life is much easier. You deal with everything really quickly and nothing has been too much trouble. Sonia is great. Thank you!"
John Webb
John WebbWebb Sight Consultancy Ltd
Read More
"Very reliable and professional, with a quick response time to emails sent to them. They give us peace of mind that our tax affairs are in order, as are Companies House returns, etc."
Michael Shephard
Michael ShephardSandrock Management Ltd
Read More
"I have been impressed by the professionalism displayed by the team. Commitments are consistently met and I'm looking forward to a closer working relationship during the coming months."
Michelle Warner
Michelle WarnerAshdown Travel
Read More
"SKS are great to deal with, very approachable with all levels of staff from Directors to accounts staff and are accommodating with requests."
Wendy Coad
Wendy CoadSURR7
Read More
"Responsive and efficient with clear lines of communication. They have kept us up to date with everything they are working on for us. Everyone very helpful and knowledgeable. Genuine people."
Jason Willett
Jason WillettIsherwoods
Read More
"Always there when we need them most."
Simon Doyle
Simon DoyleKGLighting
Read More
"Very good service and always ready to help with new situations that occur."
Maggie Norgate
Maggie NorgateNautilus 19
Read More
"Quick, structured efficient communication and service."
Fiona Penny
Fiona PennyFiona Penny Bespoke Home Finders
Read More
"SKS Business Services understand me and my business and I trust their advice implicitly."
Stuart Herron
Stuart HerronHerron Consulting Ltd
Read More
"The team are very friendly, supportive and easy to work with. Have been a long term client and have SKS have never failed to support me when I need them - thank you team."
David Ede
David EdeBlackhall RAFA Association treasurer
Read More
"Brilliant professional service delivered by friendly helpful staff, I would and will highly recommend to friends and colleagues."

Latest News & Insights