When you have mounting debts with no prospect of paying them off, declaring bankruptcy is often an efficient way to remedy the situation and give you the chance to have a fresh start.
Bankruptcy will clear your personal unsecured debts, but in doing so it's going to remain on your Credit Report for six years, which will cause problems for your future borrowing during that timeframe. An alternative type of insolvency is an IVA, which often can be ideal in case you have equity to protect, or an occupation which is excluded from bankruptcy.
If bankruptcy is definitely the solution you're looking for, then the appropriate documentation 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.