When you have mounting debts with no prospect of paying them off, applying for bankruptcy is often an effective way to remedy the situation and provide you with an opportunity to have a fresh start.
Personal bankruptcy will clear all your unsecured debts, but in doing so it is going to stay on your Credit File for six years, which can influence your future borrowing during that timeframe. Another type of insolvency is an IVA, which could be suitable in case you have equity to protect, or a profession that is excluded from personal bankruptcy.
If personal bankruptcy certainly is the right choice for you, then the required paperwork will eventually be submitted to your local County Court.
For those living within Liverpool
we have included the court details below. You only need to contact the court if you already have everything prepared, including your Statement of Affairs and Debtor's Petition, and you are ready to finalise the Bankruptcy Order.
To arrange a consultation you can complete this online form
, and an experienced Advisor will be in touch to assess your situation and advise you accordingly.