Rented Accomodation
Debt is often described in negative terms. But borrowing money, or ‘taking on debt’, isn’t necessarily a bad thing. Manageable debts, that you can comfortably pay back over an agreed period, are often necessary in order to take that next step in life.
It’s only when debt repayments become unmanageable or unaffordable that debt becomes a problem.
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Rented Accomodation
Our arrangements don’t affect tenancy agreements. While any rent arrears would not be included in your list of creditors, a provision would be made to allow you to repay the arrears to lower the risk of eviction.
However, if you were to enter bankruptcy or sequestration, you may be in breach of contract as many rental agreements contain clauses regarding this.
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Our Insolvency Practitioners have over 70 years’ combined experience