Are you considering Bankruptcy?

The number of bankruptcies in the UK doubled in the first quarter of this year following a change in legislation which reduced the time before a bankrupt is considered discharged.

But bankruptcy is not an easy option, it stays on your financial records for at least six years and can lead to the loss of your home. And there is another option to Bankruptcy, which is an IVA (Individual Voluntary Agreement). Click here to learn more about IVA's or complete our Debt Help Enquiry Form Here and we could be talking in minutes about a long lasting solution.

For many people there are other debt solutions which will not have such a far reaching impact on their life. To find out more about these solutions you can talk to one of our specialist debt counsellors who can help you make the best choice. Complete the Instant Advice Request form opposite and an advisor will call when convenient for you.

Bankruptcy - the advantages

. Once you are discharged from bankruptcy you are no longer liable for any of the debts included in the bankruptcy proceedings

Bankruptcy - some of the disadvantages

. Any of your assets can be sold, including your car and home
. You will not be able to work in the Police Force, Armed Forces, Local Council or Government. Private sector employers will also often perform a credit check on potential employees.
. You can't act as a director of a company
. You need court permission to take any part in the management of a limited company
. Any member of your family, or your employer could be scrutinised in court if the Official Receiver believes this will help the investigation
. The bankruptcy order will stay on your credit file for six years
. If a bankruptcy restriction order is granted you won't be able to act as a school governor, Member of Parliament or a member of your Local Authority.

Whatever your situation we can help and all you need to do for peace of mind is speak with one of our Debt Advisors for a, no obligation, confidential chat. Just fill in the Debt Help Enquiry Form Here and an Advisor will call when convenient for you..