Chapter 15: Personal insolvency1. Insolvency options: summary2. Administration ordersCompleting the application formThe proposed orderComposition ordersThe court hearingReviewing an administration orderRevoking an administration order3. When to use bankruptcy and individual voluntary arrangementsRisk to current assetsRisk to future assetsEffect on future creditEffect on employment or officeEffect on housingEffect on reputation and stressCosts4. Individual voluntary arrangementsWhen an individual voluntary arrangement is appropriateStraightforward consumer individual voluntary arrangementsThe individual voluntary arrangements protocolThe client’s homeStandard terms and conditionsAdvantages and disadvantagesAdvantagesDisadvantagesApplying for an individual voluntary arrangementThe proposalAfter the proposal is madeInterim ordersThe creditors' decisionAfter the meetingClients at risk of violenceChallenging an individual voluntary arrangementCompleting the individual voluntary arrangementComplaints against insolvency practitioners and individual voluntary arrangement providers5. BankruptcyWho can become bankruptAdvantages and disadvantagesAdvantagesDisadvantagesIf a client wants to make her/himself bankruptThe debtor’s bankruptcy applicationThe adjudication processIf a creditor wants to make a client bankruptServing a statutory demandChallenging a statutory demandResponding to a statutory demandSetting aside a statutory demandThe creditor’s petitionThe bankruptcy hearingIf a supervisor of an individual voluntary arrangement wants to make a client bankruptAfter a bankruptcy order is madeThe role of the official receiverClients at risk of violenceThe role of the trusteeProvable debtsRestrictions during bankruptcyPre-discharge restrictionsPost-discharge restrictions: bankruptcy restrictions orders and undertakingsHow bankruptcy can affect a clientProtected goodsBank accountsUtility companiesMotor vehiclesIncome payments ordersIncome payments agreementsPensionsInsurance policiesStudent loansOwner-occupied homesRented accommodationTransactions at an undervalue and preferencesEnforcement action by creditorsDischargeProvable debtsContingent debts and liabilitiesAnnulment6. Debt relief ordersDebt relief orders and bankruptcyWho can apply for a debt relief orderQualifying debtsIssues with particular types of debtQualifying conditionsIssues with particular types of expenditureIssues with particular types of propertyIssues with particular types of propertyMaking the applicationAfter the application is madeReporting changes in circumstancesThe effect of a debt relief orderPayments to creditorsThe role of intermediariesThe role of the official receiverOffences and restrictionsThis chapter covers the formal debt relief options available to clients who are unable to pay their debts:1. Insolvency options: summary (next)2. Administration orders (here)3. When to use bankruptcy and individual voluntary arrangements (here)4. Individual voluntary arrangements (here)5. Bankruptcy (here)6. Debt relief orders (here)