When you have mounting debts with no prospect of paying them off, filing for bankruptcy is often an efficient way to treat the problem and give you the chance to have a fresh start.
Personal bankruptcy will clear your personal unsecured debts, but in doing so it is going to stay on your Credit History for six years, which will hinder your future borrowing during that timeframe. An alternative type of insolvency is an IVA, which often can be suitable in case you have equity to protect, or a career that is excluded from bankruptcy.
If personal bankruptcy is definitely the right choice for you, then the required 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.