Bankruptcy Advice & Bankruptcy Help

Bankruptcy as a solution

It is definitely worth mentioning a few words about bankruptcy as a solution. People are often horrified by the thought of bankruptcy because, by reputation, it is the most notorious of all debt help solutions. It is true that it can have serious consequences but that does not make it the worst debt help solutions. The reality is that the worst solution is opting for the wrong solution or doing nothing at all.

For instance, let's assume that you have previously entered into a debt management plan or an IVA. Quite often with these solutions you will be making repayments for a significant period of time. Most will find this a struggle. If, for example, you can no longer make the repayments then you may well end up going bankrupt anyway. This can happen years down the road, which has to be worse than entering bankruptcy in the first instance. Unfortunately this happens more often than it should, largely because of poor debt advice being given.

To find out if bankruptcy is the best debt help solution for you complete our “FREE 60 second debt calculator” and one of our experts will call you back and talk you through our bankruptcy process.

If you are finding it tough making the decision or are worried about bankruptcy then please understand that you are not alone. I remember when I was considering bankruptcy that it took me weeks to get all the information together, take the correct advice and finally take the plunge. That was with a financial services background!

What should you expect when going bankrupt?

When I was considering bankruptcy I remember the worry. With hind sight, despite the serious consideration that going bankrupt deserves, there is much worse that life can throw at you. It is impossible to determine what you should expect without understanding your situation but I think it is fair to say that bankruptcy is certainly a worrying time. You will have to go to court and you will almost certainly face an investigation. That is enough to put the worry in to most people. Having said that, going bankrupt is not all doom and gloom, at the end of the day your bankruptcy debts are wiped and with the correct information and advice the bankruptcy need not be as consequential as you first thought.

The key to minimising the consequences of going bankrupt is information and advice. Plenty of information will ensure that you have an understanding of the process and good advice will explain how the bankruptcy will affect you personally and how best to approach it. This will also help to ensure that the process is as smooth as possible for you and your family.

Debt Advice & Debt Help

If you are struggling to repay your monthly credit card and loan payments then you will naturally cut back on living cost like food, utility bills and entertainment, but there are other ways to
get out of debt without your standard of living dropping.

We have a team of experience debt experts that can talk your through all of the options available to help you get out of debt without lowering you standard of living.