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Will your occupation be affected? |
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If you go bankrupt then you will be automatically excluded from some professions:
- Member of the Law Society
- Estate Agent
- Insolvency Practitioner
- Stock Broker
- Pub Licensee
- You cannot act as a company director.
- Charted Accountant / Lawyer.
- Justice of the peace (JP).
- member of parliament.
- member of the local authority.
For some other professions, dismissal would be at your employer’s discretion. Check your employment contract or consult your HR department or union. |
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Is Bankruptcy Right For You? |
It could be that bankruptcy is the most suitable debt solution for you.
You may hear that bankruptcy should be considered a last resort, and that you should try an IVA (Individual Voluntary Arrangement), IPP (Informal Payment Plan) or DMP (Debt Management Plan) first, but this isn't always suitable. What's right for you depends entirely on your circumstances as these are all solutions to the same problem, but tackled differently.
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Bankruptcy Assistance Service |
You may find that you would benefit from professional help in completing your Statement of Affairs and Bankruptcy Petition.
From the time that you decide to apply for a bankruptcy order, to the day that you are declared bankrupt, you may seek assistance in order to keep your creditors and bailiffs at bay. In addition, performing your own research into bankruptcy often results in receiving conflicting information, depending on the source(s).
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How to File for Bankruptcy |
After you've sought financial advice, you can either file the required paperwork yourself, or use the help of a Solicitor, Insolvency Practitioner or Bankruptcy assistance service to take care of everything.
Professional guidance can ensure that all Court paperwork is completed, creditors are kept at bay, legal action is averted...
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You are immediately free from debt and will not be responsible for any of your pre-existing debts.
It is a fresh start for you and your family to start again and build yourself up from a position of strength. You are immediately protected from all your creditors who form part of your bankruptcy.
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