The Homeowners Advice Centre Homeowners Advice Centre
Homeowners Advice Centre

Considering Bankruptcy?

Although bankruptcy strikes fear into most people's hearts, it is usually only a last resort. Most creditors (people you owe money to) would rather see you provide a last minute repayment arrangement than actually have to force your bankruptcy.

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However, sometimes bankruptcy is absolutely the right solution. Generally, if your debts are below £40,000 (excluding your mortgage), then there are usually alternatives to bankruptcy. If you owe more than this, or are not in employment, then bankruptcy may be the solution, but do get professional advice first.

An I.V.A. (Individual Voluntary Arrangement) is a structured plan for people in debt that avoids bankruptcy, and in most cases allows you to write off a substantial amount of what you owe. Most people who enter an I.V.A are totally debt free in 60 months or less and it is far less public than bankruptcy. In fact no-one, except your creditors needs to know.

We will happily talk you through your options and best of all, all of our advice is always 100% free! Click on the green box to the right of the page to open our free online advisory service or click here to open an email.


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*We will pay you £200 in cash if can't provide you with a viable solution within 30 days.

 

 

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Testimonials

"I was in serious debt, but you showed me that there were still options. Now I have written the majority of the debt off and I will be debt free in 60 months!"

L.E., Salford

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