Filing for bankruptcy in the UK is an easier process when you have professional advice and guidance. The circumstances that surround your current financial situation, the amount of debt, your assets and sometimes your occupation are factors that will determine if this is the correct course of action that you need to take.
If you don't own your own home, don't have any savings and don't own an expensive car then, generally speaking, bankruptcy can be a more suitable option than perhaps an IVA (Individual Voluntary Agreement) or DMP (Debt Management Program).
Petition yourself or use a bankruptcy service?
You can ask your local court for the necessary paperwork to apply for bankruptcy, but may find that you would benefit from professional help in completing your Statement of Affairs and Bankruptcy Petition.
From the time that you decide to apply for a bankruptcy order, to the day that you are declared bankrupt, you may seek assistance in order to keep your creditors and bailiffs at bay. In addition, performing your own research into bankruptcy often yields conflicting information, depending on the source(s).
Our bankruptcy service
Clear Insolvency pride ourselves on providing an efficient, discrete and cost-effective service. We'll complete all your paperwork, including your petition; notify your creditors that bankruptcy proceedings will begin, provide details on what restrictions will apply and the effects bankruptcy will have on you, book your court date as well as anything else pertaining to your bankruptcy.
We have the most competitive pricing scheme for this level of service and all clients are assigned an Insolvency Advisor who will not only deal with your case to the point of bankruptcy, but is also on-hand 7 days a week if you have any questions or need any help.
If bankruptcy is not the most suitable choice for you then we will advise against it.
Complete an enquiry form and an advisor will call you back. Alternatively you can call us.
The service Clear Insolvency provide:
Contact your creditors
Complete all necessary paperwork, including the bankruptcy petition
Lead you through each step of the process
Help you obtain a new bank account and prepaid mastercard
We would require you to send us information regarding your income and expenditure, a list of your creditors and what is owed, as well as other related information. From that step we take care of the rest to ensure that this is as stress-free as possible.
Complete our short enquiry form to see how we can assist you and we will call you back. Alternatively you can contact us.
It could be that bankruptcy is the most suitable debt solution for you.
You may hear that bankruptcy should be considered a last resort, and that you should try an IVA (Individual Voluntary Arrangement), IPP (Informal Payment Plan) or DMP (Debt Management Plan) first, but this isn't always suitable. What's right for you depends entirely on your circumstances as these are all solutions to the same problem, but tackled differently.
You may find that you would benefit from professional help in completing your Statement of Affairs and Bankruptcy Petition.
From the time that you decide to apply for a bankruptcy order, to the day that you are declared bankrupt, you may seek assistance in order to keep your creditors and bailiffs at bay. In addition, performing your own research into bankruptcy often results in receiving conflicting information, depending on the source(s).
Personal bankruptcy for Scottish residents is called Sequestration.
To be sequestrated you must owe at least £1,500 and either: one or more of your creditors must have taken you to court to enforce or demand you repay a debt or you must have been on a debt payment programme under DAS that has been revoked and one of the creditors in the DPP have been to court and obtained a decree on one of the debts.
You are immediately free from debt and will not be responsible for any of your pre-existing debts.
It is a fresh start for you and your family to start again and build yourself up from a position of strength. You are immediately protected from all your creditors who form part of your bankruptcy.
Clear Insolvency is trading name of Hamilton and Clarke Ltd.
Registered in the UK. Company no. 6465374. Consumer Credit License (UK) 612841
Clear Insolvency, 27 Old Gloucester Street, London, WC1N 3AX
