When you have mounting debts with no prospect of paying them off, filing for bankruptcy can be an efficient way to remedy the situation and provide you with the chance to have a fresh start.
Personal bankruptcy will clear your personal unsecured debts, but in doing so it's going to stay on your Credit History for 6 years, which will have an effect on your future borrowing during that timeframe. An alternative form of insolvency is an IVA, which could be suitable if you have equity to protect, or a job that is excluded from personal bankruptcy.
If personal bankruptcy is definitely the solution you're looking for, then the necessary paperwork will eventually be filed at your local County Court.
For those living within Wolverhampton
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.