In A Panic Over Your Debts? Don’t Worry, Help Is At Hand…
Bankruptcy is Only One of Many Options Available to You. Speak to Our Team Who Can Find The Right Option to Fit Your Needs & Give You Back Control…
Alternatively why not complete our online form to see if you qualify

What is bankruptcy & how does it work?
Bankruptcy is a form of insolvency and is a declaration that you can’t repay your debts (unsecured) You can declare yourself bankrupt or it can be by a creditor(s) to whom you owe a lot of money.
Once bankruptcy has been declared, there is no need to interact with your creditors. No further court action can be taken by them against you, equally they have to cease sending you threatening letters and phone calls from those to whom you owe money have to stop. Instead, the responsibility of your assets and money, will be taken over by a trustee. The trustee is either an official receiver (an officer appointed by the bankruptcy court) or an insolvency practitioner (usually an accountant or lawyer).
More…
A bankruptcy order usually lasts for a year, Typically at the end of the year your existing debts are written off and you will, for all intents and purposes, be out of debt.
Declaring bankruptcy involves going to court with associated costs and if you were to use a solicitor this can add to the cost.
Let’s compare an alternative to bankruptcy –
Although that sounds like a feasible solution let’s look at the cons of declaring bankruptcy –
● All assets (including property) have to be sold
● Any additional income in excess of basic living has to be paid to your creditors
● Your job may be at risk – some trades won’t employ when bankrupt
● Your bankruptcy is made public
● Potential large fees upfront to declare bankruptcy
The most common alternative is an IVA (individual voluntary agreement), so let’s look at the pro’s for this alternative
● Ring fence and protect any property or assets
● Freeze interest and charges from your creditors
● Ceases any legal action
● Government backed scheme
● Legally stops creditor contact (no more threatening letters or calls)
● No set up fees, no management fees
● Up to 85% of your debts written off
So before you file for Bankruptcy why not discuss your options, call one of impartial friendly debt specialists now on 01234 123 456
Or fill in our online form to and we will be than happy to take you through how we can help you get back in control