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 an opportunity to have a fresh start.
Bankruptcy will clear all of your current unsecured debts, but in doing so it is going to stay on your Credit History for 6 years, which can cause problems for your future borrowing during that timeframe. An alternative method of insolvency is an IVA, which may be best suited in case you have equity to protect, or a profession that is excluded from bankruptcy.
If bankruptcy is definitely the right choice for you, then the necessary paperwork will eventually be filed at 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.