When you have mounting debts with no prospect of paying them off, declaring bankruptcy can be an efficient way to treat the problem and give you a chance to have a fresh start.
Bankruptcy will clear all of your unsecured debts, but in doing so it's going to remain on your Credit Report for 6 years, which can have an impact on your future borrowing during that timeframe. An alternative method of insolvency is an IVA, which often can be suitable for people who have equity to protect, or an occupation that is excluded from bankruptcy.
If bankruptcy is definitely the answer you're looking for, then the appropriate documentation will eventually be filed at 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.