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 all of your unsecured debts, but in doing so it is going to remain on your Credit History for 6 years, which will affect your future borrowing during that timeframe. Another form of insolvency is an IVA, which may be best suited for people who have equity to protect, or a job that is excluded from personal bankruptcy.
If bankruptcy is the solution you're looking for, then the necessary paperwork 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.