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« Scottish residents - … | Home | What is an IVA? »

Avoid bankruptcy?

02 May 2009 - 14:07

Disadvantages

You lose control of your assets (house, savings, expensive car (over £2500)
You cannot obtain credit for over £500 without the declaring that you are bankrupt..
You cannot take any part in the promotion, formation or management of a limited company (LTD) without the permission of the court.
You cannot trade in any business under any other name unless you inform all persons concerned of the bankruptcy.

Occupations affected

You cannot act as a company director.
You may not practice as a Charted Accountant / Lawyer.
You may not act as a Justice of the peace (JP).
You may not become an member of parliament.
You may not become a member of the local authority.

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If you're looking for assistance in declaring your bankruptcy in the UK you can contact us at contact@bankruptcyservices.co.uk.
We have several affiliates on our panel and will pass your details on to one of these firms. They will contact you to discuss in detail your situation.

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