Bankruptcy as a debt problem solution

Bankruptcy should be seen as an extreme solution to solving your debts and should only ever be considered once all other options have been exhausted.

The process of declaring yourself bankrupt is a very public one. Your insolvency practitioner will notify those with whom you are financially connected about your bankruptcy and he or she will publish details about your bankruptcy in your local newspaper.

Your insolvency practitioner will close any business that you own once you have been declared bankrupt.

All future assets acquired during the term of the bankruptcy, such as inheritances, will be lost.

Your personal possessions and disposable income are converted into cash, which will go towards repaying your creditors.

Take our 1-minute debt test, or alternatively call us on 0800 048 1771 and we will work with you to avoid bankruptcy.