When you have mounting debts with no prospect of paying them off, declaring bankruptcy could be an efficient way to treat the problem and provide you with the chance to have a fresh start.
Personal bankruptcy will clear all of your current unsecured debts, but in doing so it's going to remain on your Credit File for 6 years, which can affect your future borrowing during that timeframe. An alternative type of insolvency is an IVA, which might be suitable in case you have equity to protect, or a job that is excluded from personal bankruptcy.
If personal bankruptcy certainly is the right choice for you, then the necessary documentation will eventually be filed at 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.