When you have mounting debts with no prospect of paying them off, filing for bankruptcy is often an efficient way to treat the situation and give you the chance to have a fresh start.
Personal bankruptcy will clear all your unsecured debts, but in doing so it's going to stay on your Credit Report for six years, which will affect your future borrowing during that timeframe. An alternative type of insolvency is an IVA, which might be best suited should you have equity to protect, or an occupation which is excluded from bankruptcy.
If personal bankruptcy is the answer you're looking for, then the required documentation will eventually be filed at your local County Court.
For those living within Truro
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.