We can help offer you bankruptcy advice and see if there is a better alternative for you which will allow you to avoid some of the bankruptcy implications.
Bankruptcy is an extreme solution as it is a very public process. All of your possessions and disposable income are converted into cash to go towards repaying some or all of your outstanding creditor commitments.
Bankruptcy should only ever be suitable for debtors when all other options have been fully exhausted.
Individual Voluntary Arrangements (IVA) were introduced as a bankruptcy alternative. They allow a certain amount of debt write off without the same risk to your assets.
If you find yourself in such a serious financial difficulty that you are considering bankruptcy, please call us on 0800 048 1766 and let one of our specialist advisors help you through this confusing time.