When you have mounting debts with no prospect of paying them off, applying for bankruptcy can be an effective way to treat the problem and give you a chance to have a fresh start.

Personal bankruptcy will clear all your unsecured debts, but in doing so it is going to remain on your Credit File for 6 years, which will impact your future borrowing during that timeframe. Another type of insolvency is an IVA, which could be ideal in case you have equity to protect, or a career which is excluded from personal bankruptcy.

If personal bankruptcy certainly is the answer you're looking for, then the required paperwork will eventually be filed at your local County Court.

For those living within Southampton 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.