Filing for Bankruptcy - The Quickest Way Out Of Debt!

When you file for bankruptcy you could lose your home, car and other possessions, your credit score and professional life can also be affected. We can assist you in the administration of your bankruptcy process.

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.

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 and bankruptcy details will be publicly announced in the local press

Note: Debt Advisory Line have helped thousands of people who thought bankruptcy was their only option, talk to an adviser about all teh solutions available in your circumstances.

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

Bankruptcy Service Customer Feedback – Peter from Warrington May 2011
‘..thanks once again for all your help with this,
you’ve made a quite harrowing process far easier to deal with”.