When you have mounting debts with no prospect of paying them off, declaring bankruptcy could be an effective way to remedy the problem and give you the chance to have a fresh start.
Bankruptcy will clear all your unsecured debts, but in doing so it will remain on your Credit History for 6 years, which can have an effect on your future borrowing during that timeframe. Another form of insolvency is an IVA, which could be best suited should you have equity to protect, or a profession which is excluded from bankruptcy.
If personal bankruptcy certainly is the answer you're looking for, then the appropriate paperwork will eventually be submitted to 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.