When you have mounting debts with no prospect of paying them off, declaring bankruptcy can be an effective way to remedy the situation and give you a chance to have a fresh start.
Bankruptcy will clear all of your unsecured debts, but in doing so it is going to remain on your Credit Report for six years, which will impact your future borrowing during that timeframe. An alternative type of insolvency is an IVA, which might be suitable in case you have equity to protect, or a profession that is excluded from personal bankruptcy.
If bankruptcy is definitely the solution you're looking for, then the appropriate documentation 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.