Managing and paying off debt during Covid-19 crisis
Monday, June 22, 2020 0:01
By CATHY MPUTHIA
Due to a meltdown in the global and national economy, a lot of businesses have performed poorly.
At times the risk of debt or the incurred debt may be overwhelming because such debt is owed to several persons.
In other words, this individual has a lot of outstanding debt.
I advise such an individual to seek the court's protective remedy by filing for voluntary arrangements under the Insolvency Act 2015.
This arrangement is different from a bankruptcy filing as it is a temporary reprieve an affected individual can get from the court.
