When you have mounting debts with no prospect of paying them off, declaring bankruptcy could be an effective way to remedy the situation and provide you with a chance to have a fresh start.
Bankruptcy will clear your personal unsecured debts, but in doing so it's going to stay on your Credit File for six years, which can influence your future borrowing during that timeframe. Another type of insolvency is an IVA, which often can be ideal for those who have equity to protect, or a job that is excluded from personal bankruptcy.
If bankruptcy certainly is the right choice for you, then the necessary 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.