When you have mounting debts with no prospect of paying them off, declaring bankruptcy is often an effective way to treat the problem and provide you with a chance to have a fresh start.
Personal bankruptcy will clear all your unsecured debts, but in doing so it will remain on your Credit History for 6 years, which can cause problems for your future borrowing during that timeframe. An alternative type of insolvency is an IVA, which might be ideal should you have equity to protect, or an occupation which is excluded from bankruptcy.
If personal bankruptcy is the answer you're looking for, 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.