When you have mounting debts with no prospect of paying them off, filing for bankruptcy could be an effective way to treat the problem and give you a chance to have a fresh start.
Bankruptcy will clear all your unsecured debts, but in doing so it's going to stay on your Credit Report for 6 years, which will have an effect on your future borrowing during that timeframe. An alternative method of insolvency is an IVA, which may be best suited for people who have equity to protect, or a profession that is excluded from bankruptcy.
If bankruptcy certainly is the right choice for you, then the appropriate 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.