When you have mounting debts with no prospect of paying them off, applying for bankruptcy can be an effective way to remedy the problem and give you a chance to have a fresh start.
Bankruptcy will clear all of your unsecured debts, but in doing so it will remain on your Credit File for six years, which can have an effect on your future borrowing during that timeframe. Another method of insolvency is an IVA, which often can be best suited for people who have equity to protect, or an occupation which is excluded from personal bankruptcy.
If bankruptcy is definitely the answer you're looking for, then the necessary documentation will eventually be submitted to your local County Court.
For those living within Wrexham
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.