What is insolvency, please describe fully?
You dont have to be atx collector to get ‘into’ Insolvency. Insolvency, is when an individual or company is unable to repay money due to creditors. It can be a voluntary insolvency (you know these adverts that say they can wipe off debts etc) or it can be made Insolvent by a creditor. There are lots of areas of work within insolvency including a collector, an Insolvency Practitioner, legal advice etc etc etc. Depending on where you live, Insolvency also has different laws, Scottish ( Trust Deeds, Sequestrations and Debt Arrangement Schemes) and English (Company Voluntary Arrangement- CVA, Individual Voluntary Arrangement-IVA)are completely different. Have a look at these http://en.wikipedia.org/wiki/Insolvency & http://www.insolvency.gov.
