ABSTRACT
It is often said that many dentists live beyond their incomes; this may be due to a number of factors. General dental practitioners (GDPs) who are faced with an impossible position should discuss the situation with an Insolvency Practitioner, who is trained to handle such matters. A practitioner who is warned of impending disaster should seek to put matters right rather than seek some cosmetic solution such as borrowing further money or seeking to release the equity in their home or surgery. It may be that the GDP should consider a voluntary arrangement with creditors; the Insolvency Practitioner will be able to arrange this scheme. Initially the debtor will have an interview with the Official Receiver's examiner, who will enquire into the bankrupt's conduct and the reasons for the insolvency. A creditor can take the action by presenting the petition to the High Court, paying the fee and a deposit towards the costs of the Official Receiver in Bankruptcy.
