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 the chance to have a fresh start.

Bankruptcy will clear all of your unsecured debts, but in doing so it will remain on your Credit History for six years, which will have an effect on your future borrowing during that timeframe. Another type of insolvency is an IVA, which might be best suited for those who have equity to protect, or a job that is excluded from personal bankruptcy.

If bankruptcy is the answer you're looking for, then the necessary documentation will eventually be filed at your local County Court.

For those living within Leeds 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.