When you have mounting debts with no prospect of paying them off, declaring bankruptcy could be an efficient way to treat the problem and give you the chance to have a fresh start.
Personal bankruptcy will clear all of your unsecured debts, but in doing so it will stay on your Credit Report for six years, which will have an impact on your future borrowing during that timeframe. An alternative type of insolvency is an IVA, which may be best suited if you have equity to protect, or a career which is excluded from personal bankruptcy.
If bankruptcy is definitely 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.