Bankruptcy is a form of insolvency where your non-essential assets (possessions and property) and any excess income will be used to pay your creditors.

After a bankruptcy order is made you are protected from your creditors and on completion all your outstanding debts are written off *.

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Our experienced Debt Counsellors will review your circumstances against a wide range of debt solutions to see what's right for you.


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  • Write off outstanding debt in 12 months (in most cases)*.
  • Stop action from creditors and debt collectors.
  • Learn about alternative plans from an expert.

Key info & fees

Further information on fees and debt solutions

*Debt write off applies on completion of your bankruptcy order. You may have to sell your home to pay your creditors. During bankruptcy you will not be able to be a company director.

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£2,000 or under£30,000 +

What is Bankruptcy?

A bankruptcy order is designed to protect you from creditor harassment and bailiffs, and deal with debts you can't pay. Once in place you will have an opportunity to sort out your financial situation and, once you are discharged (freed) from your debts, you will be able to make a fresh start.

Declaring bankruptcy is suited to people with a major debt problem. Bankruptcy is normally a last resort, and its consequences must be considered. You have to agree to certain restrictions and your financial affairs will be investigated. However, it does not last forever:

  • If you cannot afford to repay debts in a reasonable time, have limited assets and your financial position is not likely to improve, then bankruptcy could be the best way to deal with your debts.

  • Our expert bankruptcy advisors will quickly review your circumstances in confidence and without any obligation. It is important to take advice before entering the complex legal process.

  • We will advise you on your eligibility for bankruptcy, ensure you fully understand the consequences, and talk to you about alternative plans where we can.

Generally it will be 12 months before you will be discharged however, this can be extended if you fail to co-operate with the Official Receiver or Trustee.

Bankruptcy online?

From April 6th, 2016, in order to apply for bankruptcy online, each applicant will:
1. Start their application by creating an account with the Insolvency Service via the central Government website, GOV.UK
2. Use the application number emailed to them to sign into their application
3. Complete the application in their own time, signing out and returning to their application as many times as they'd like
4. Pay the £680 bankruptcy fee either online or in cash
5. Electronically submit their completed application
6. Receive an email once a decision has been made on their application
7. Sign into their application to check the decision and find out about next steps

If the bankruptcy is approved, your debts are written off and your creditors are unable to take any further action against you to recover the money owed to them.

However, going bankrupt is not an easy way out of debt. When you go bankrupt you are subject to various credit and business restrictions. Also, your assets are at risk because they could be sold off to pay creditors.

Free bankruptcy advice

We offer free, confidential advice on all kinds of debt problems and can advise you on bankruptcy and other types of debt solutions such as IVA’s or Debt Management Plans.


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