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Scotland > Insolvency

Insolvency and Bankruptcy

This section explains what you should do if you decide to cease trading. It looks at formal insolvency for both individuals and limited companies as well as alternatives to bankruptcy or liquidation.

Should I Continue Trading?
There will be several people to inform if you decide to cease trading. This section explains what you need to do.

Insolvency
How insolvency affects you will depend on your legal status. This section gives an overview of this.

Bankruptcy
This section explains the process and effects of becoming bankrupt.

Trust Deed for Creditors
This is a possible alternative to formal bankruptcy. This section explains how it works and will help you decide if it applies to you.

Winding up a Company
Covers winding up a company, liquidation, administration and receivership.

Other Options for Companies
There are a few other options if you are in financial difficulties. This section will help you decide which is best for you.

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