When you have mounting debts with no prospect of paying them off, filing for bankruptcy could be an effective way to remedy the situation and give you a chance to have a fresh start.
Personal bankruptcy will clear all your unsecured debts, but in doing so it will remain on your Credit File for six years, which will influence your future borrowing during that timeframe. Another type of insolvency is an IVA, which often can be best suited in case you have equity to protect, or a career that is excluded from bankruptcy.
If personal bankruptcy certainly is the right choice for you, then the appropriate paperwork 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.