When you have mounting debts with no prospect of paying them off, applying for bankruptcy could be an effective way to treat the situation and give you an opportunity to have a fresh start.
Personal bankruptcy will clear all of your current unsecured debts, but in doing so it will stay on your Credit Report for six years, which will affect your future borrowing during that timeframe. An alternative method of insolvency is an IVA, which might be suitable 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 Brighton
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.