When you have mounting debts with no prospect of paying them off, declaring bankruptcy could be an efficient way to treat 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 stay on your Credit Report for 6 years, which can affect your future borrowing during that timeframe. Another form of insolvency is an IVA, which might be suitable should you have equity to protect, or an occupation which is excluded from bankruptcy.
If bankruptcy is the solution you're looking for, then the appropriate 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.