When you have mounting debts with no prospect of paying them off, filing for bankruptcy is often an efficient way to remedy the situation and give you the chance to have a fresh start.
Bankruptcy will clear all your unsecured debts, but in doing so it is going to stay on your Credit Report for 6 years, which will cause problems for your future borrowing during that timeframe. Another method of insolvency is an IVA, which often can be suitable for those who have equity to protect, or a career that is excluded from bankruptcy.
If bankruptcy is the answer you're looking for, then the necessary 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.