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.
Get no obligation advice in just 5 minutes!
If you really can't afford to repay your debts then Bankruptcy may be the debt solution for you. With a Bankruptcy order:
You Are Free of Debt
All of your assets are shared amongst your creditors to the value of your debt meaning you are 100% debt free.
Your Wage is Protected
Creditors are prevented from taking money directly from your wage allowing you to manage your living costs.
You Regain control
The Bankruptcy generally only lasts for 12 months so you regain control of you life and finances.
You Are Free of Hassle
You will no longer be bugged by telephone calls or threats of legal action.
Find your debt solution NOW!
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.
If you are simply looking for advice we are happy to help. Just fill out the form below and we will call you back to discuss your options.
Whilst all of our advice is free with no obligations, we can spend as much or as little time as you wish discussing the most appropriate solution to suit your needs. If at the end you decide to positively resolve your problem by allowing us to provide you one of our first class services, there will be a small cost in doing so. Please refer to our terms & conditions.
This however is often offset by your reduced payments to your credit companys.