When you file bankruptcy you could lose your home, car and other possessions, your credit score and professional life will be affected. If you feel that you're at the end of the rope financially and find no option to deal with your debts, you should consider Bankruptcy - it is the quickest way to Get Out Of Debt! However there are other alternatives to help you repay your debts. An Individual Voluntary Arrangement (IVA) is a realistic alternative to bankruptcy which the government introduced as part of the Insolvency Act 1986 to give people a second chance. It is a legally binding structured repayment plan which benefits both you and your creditors. An IVA usually lasts for 5 years and you could potentially have up to 75% off your debt written off.

Bankruptcy UK - Lose All Your Debts And Start Fresh!

When you've filed for Bankruptcy all your possessions and all the income you receive from various sources will be combined into one which will be used to pay your creditors.

So how do you find out if you qualify for bankruptcy?

Bankruptcy petitions are presented by a creditor who is individually or jointly owed £750 or more. However you can file for personal bankruptcy if you feel that you have no realistic chance of repaying the debt.

So you have filed for bankruptcy - What restrictions would you face?

• You can't obtain credit for any amount more than £500 without informing the lender that you're bankrupt
• You stand to lose some positions of authority in case you're a high ranking officer
• You can't continue as a director of a company while you're bankrupt
• Your name bankruptcy will be publicly announced in the local press

Debt Advisory Line have helped thousands of people who thought bankruptcy was their only option. Debt Advisory Line offer Professional Debt Management Help and Advice on debt solutions including:

• Debt Management

• Individual Voluntary Arrangements

• Trust Deeds

• Bankruptcy Advice

• Debt Relief Order

• Mortgages

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• Secured Loans

There are lots of benefits from our debt management solutions, almost of all of our clients state that they have "peace of mind" and can carry on with their everyday lives knowing that their debts are being dealt with by a professional debt management company.

With our multi award winning Debt Management Plans we aim to help you repay your debt in the shortest time possible, without unwanted hassle from creditors. Don't bury your head in the sand, we want you back on track so you can regain your financial freedom.

There are over 150 Debt Management Companies in the UK and Debt Advisory Line was voted the Debt Management Provider of the Year in 2008, Debt Management Provider of the Year in 2009 and shortlisted for the Debt Management Counsellor of the Year in 2008. With years of debt management knowledge and experience you can be rest assured that Debt Advisory Line is the right debt solution company to help you manage your debt.

Over 95% of our Debt Management customers would recommend their friends and family, "I  can recommend their service to any-one so if you feel you can't cope or just want some advice give them a call, I'm glad I did." John, Customer Service Officer, Bradford.

For an Online Debt Advice Assessment Simply Complete Our Debt Management Advice Form Now!