The Insolvency Service

The Insolvency Service is a government agency in the UK that helps manage situations where individuals or businesses cannot pay their debts. It oversees processes like bankruptcy and insolvency, ensuring they are handled fairly and legally. The agency provides support to those in debt, including guidance on options for restructuring or settling debts. It also protects the interests of creditors and ensures compliance with insolvency laws. By doing so, the Insolvency Service aims to maintain trust in financial systems and promote responsible practices among businesses and individuals managing their finances.