Insolvency Service

The Insolvency Service is a government agency in the UK responsible for dealing with insolvency issues, which occur when individuals or businesses cannot pay their debts. It oversees processes like bankruptcy and voluntary arrangements, helping to manage and resolve these financial situations. The agency aims to protect creditors’ interests while providing support and guidance to those facing insolvency, ensuring that there’s a fair process in place. It also investigates cases of fraudulent activity related to insolvency, promoting responsible financial practices and enhancing public confidence in the system.