Bankruptcy
Bankruptcy is often the last resort for someone struggling with debt. Bankruptcy is applicable to people whose debts are greater than their assets. This is a serious course of action and where possible we endeavor to find an alternative solution to your debt problems before approaching this route.
When you opt for bankruptcy it usually lasts for about a year however the implications of bankruptcy can last a lot longer. Once your debts have been cancelled via this route you may struggle to gain credit in the future.
Therefore other options, such as a Debt Management Plan or an IVA are an alternative route to bankruptcy and we can discuss the best route for you once you get in touch. If your debts are considerable and you feel that things are getting too much then we can help.
There are a number of things you should know to reassure you before you call:
There are other aspects of bankruptcy that we could expand on here but in essence each case is different. Therefore your best route to find out more is to speak to one of our advisors. Why not get us to call you back? Fill in your details on the right and we will be in touch as soon as possible to advise you on the best course of action.
To find out more about Bankruptcy call us today or complete our online enquiry form.
Bankruptcy is often the last resort for someone struggling with debt. Bankruptcy is applicable to people whose debts are greater than their assets. This is a serious course of action and where possible we endeavor to find an alternative solution to your debt problems before approaching this route.
When you opt for bankruptcy it usually lasts for about a year however the implications of bankruptcy can last a lot longer. Once your debts have been cancelled via this route you may struggle to gain credit in the future.
Therefore other options, such as a Debt Management Plan or an IVA are an alternative route to bankruptcy and we can discuss the best route for you once you get in touch. If your debts are considerable and you feel that things are getting too much then we can help.
There are a number of things you should know to reassure you before you call:
- Once declared bankrupt you are no longer responsible for any of the debts you detailed in the application form;
- The assets that have been detailed in the proceedings will be shared out to your creditors;
- You will not be able to act as a director of a company;
- Bankruptcy will remain on your Credit File for 6 years;
There are other aspects of bankruptcy that we could expand on here but in essence each case is different. Therefore your best route to find out more is to speak to one of our advisors. Why not get us to call you back? Fill in your details on the right and we will be in touch as soon as possible to advise you on the best course of action.
To find out more about Bankruptcy call us today or complete our online enquiry form.
