When you have mounting debts with no prospect of paying them off, applying for bankruptcy could be an effective way to treat the problem and provide you with the chance to have a fresh start.
Bankruptcy will clear your personal unsecured debts, but in doing so it is going to remain on your Credit Report for 6 years, which will influence your future borrowing during that timeframe. An alternative form of insolvency is an IVA, which may be best suited if you have equity to protect, or a job which is excluded from personal bankruptcy.
If bankruptcy certainly is the right choice for you, then the required paperwork will eventually be submitted to 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.