Is Bankruptcy the right debt solution for you?

For individuals in exceptional circumstances with little or no money to repay there commitments, we can advise and assist on personal Bankruptcy & what that means to you.

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Bankruptcy

If you really can't afford to repay your debts then Bankruptcy may be the debt solution for you. With a Bankruptcy order:

FAQs

If you have a question that isn't answered below then feel free to give us a call on 0800 2300 025. Alternatively you can contact us by email or post.

• Am I allowed to open a bank account?
  In simple terms, yes you can. There is nothing in the Bankruptcy agreement that stops you from having an account.
• How long will it be before my Bankruptcy status is discharged?
  You will be discharged within a year.
• What is the Bankruptcy process?
  It is declared by the courts who issue the Bankruptcy order once it receives a petition for Bankruptcy.
• How will Bankruptcy affect me?
  Your assets will be claimed and sold to pay off your creditors to the value of what you own. Some things are exempt from this such as things you need for work and some household items such as clothing, bedding and furniture.
• Does what I earn affect Bankruptcy?
  You can be ordered to set up an income related pay scheme if, when taking into account your mortgage payments and cost of living, it is deemed that you can make payments to your creditors. If this happens but your occupational circumstances change , then you simply report this to the Official Receiver who will review your arrangement.
• How long does Bankruptcy last?
  Normally a year before you are discharged. It can happen early if you provide full co-operation with the Official Receiver.