What is Bankruptcy?

Bankruptcy should always be seen as a last resort. It can be a very public and sometimes humiliating experience with some very damaging and long lasting affects. In many cases you can avoid bankruptcy with the right advice and the correct solution.

• Bankruptcy is the last resort for anyone struggling with debt.
• Bankruptcy is for people who cannot afford to pay anything towards their debts.
• If you are able to make payments towards your debt then you may be forced to do so for up to three years.
• Your creditors can force the sale of your assets in order to recoup the money owed to them.
• In some professions you may run the risk of loosing your job.
• All of your accounts will be closed and anything held on HP will be returned to its owner.
• Your name can be published in your local newspaper and the London Gazette.
• Your landlord may be notified.

Often people think that bankruptcy is their only option. However there are alternative options available that can help you to become debt free without going through the trauma of bankruptcy.
In order for us to explore your options and potentially avoid bankruptcy then please contact our friendly advisors for free and impartial advice.