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

Personal bankruptcy will clear all of your current unsecured debts, but in doing so it's going to stay on your Credit Report for 6 years, which can influence your future borrowing during that timeframe. An alternative type of insolvency is an IVA, which may be best suited for people who have equity to protect, or an occupation that is excluded from personal bankruptcy.

If personal bankruptcy is the answer you're looking for, then the necessary documentation will eventually be submitted to your local County Court.

For those living within Wakefield 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.