When you have mounting debts with no prospect of paying them off, applying for bankruptcy could be an effective way to remedy the problem and give you the chance to have a fresh start.
Personal bankruptcy will clear your personal unsecured debts, but in doing so it will stay on your Credit File for 6 years, which can have an effect on your future borrowing during that timeframe. An alternative form of insolvency is an IVA, which might be ideal should you have equity to protect, or a profession which is excluded from personal bankruptcy.
If bankruptcy is the right choice for you, then the required paperwork will eventually be submitted to your local County Court.
For those living within Wrexham
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.