The Uk’s Leading Independent Bankruptcy Advice Provider
Hello and welcome to Bankruptcy.co.uk. We are independent providers of personal and commercial bankruptcy advice, no matter how straightforward or complex the case might be. We provide bankruptcy advice to hundreds of people living in the UK and Republic of Ireland and often help ex pats living outside the UK. We pride ourselves on our extensive experience and friendly and straightforward approach to bankruptcy advice.
Our bankruptcy advisers do not use scripts and that means they listen very carefully to what you are saying. We are mature fast efficient bankruptcy advice specialists, The SAS of the bankruptcy advice sector. There isn’t much they haven’t seen or experienced and they know how to overcome a wide range of problems. Once they have spoken to you, everything discussed is confirmed in an email within the hour.
We provide a specialist approach to the most impossible sets of circumstances
Fast and effective Bankruptcy advice service
We aim to respond to a call back request within 10 minutes. On the other hand, if you call us on 01425 600129 you can speak to us straight away. We provide an initial free review to gain an understanding of your circumstances.
At that point we can offer you assistance with proceeding with bankruptcy and will guide you through the process step-by-step and complete the necessary paperwork. We will even deal with your creditors, if needs be. We are transparent when it comes to our services. What you see is what you get. There are no hidden costs or charges.
Something unique to this company is ‘Post Bankruptcy Advice‘, something which has become particularly important in recent times.
There are a number of ways individuals can ‘trip up’ in bankruptcy, especially when the case reaches the Official Receiver’s Office.
We can actively contest any decision which we feel is unfair and this is something few people know how to do, or might feel too intimidated to do. We have no such problem and have overturned many decisions.
Once we have your information, we can complete the entire process with 72 hours of you first contacting us. On the other hand, if you don’t have the funds for completing the bankruptcy process, we will gladly set up a payment plan for you and protect you from your creditors all the while.
Bankruptcy is often seen as the fastest way out of debt and is an excellent facility for resolving impossible situations. But you need the right bankruptcy advice Once bankrupt, you come under the protection of the court and your creditors can no longer pursue you.
Contact us for free bankruptcy advice
Call us for a free review and chat on 0800 5977 977 or 01425 600129.
Everything is confidential and you are under no obligation to use our services
What We Need To Know
1. What you have got going on around you
2. Examine the options that are feasibly available to you
3. Identify the trigger points as to how you have ended up in the position that you are in.
4. See if there is any chances or claiming any monies back from creditors or loan providers where you may have a legitimate claim for mis sold mortgage or PPI that may have been applied to any loans or credit facilities that yo have ever taken out on the past.
The options are as follows:
Do Nothing- Wait and see what happens, knowing that if you take this option the situation may simply go away, or something could happen to change the landscape of your debt situation, such as a windfall or additional household income.
Personal Bankruptcy- This option should be considered first of all in our opinion with higher debt values. If you have no assets to speak of, and you have a job or career that will not be affected by a bankruptcy order, and you cannot see any opportunities coming up that are likely to enable you to manage your debts, then a bankruptcy could be a good option for you. Especially for all those people that have struggled with a debt management plan or individual voluntary arrangement.
IVA (individual Voluntary Arrangement) These are much better than they used to be. The reality is today that if you have a minimum debt level of £7k plus and a disposable income of £80 a month then you are able to apply for an IVA.
An IVA is a legal agreement between you and your creditors, put together by a licensed Insolvency Practitioner or Chartered Accountant that practices in insolvency.
Your creditors are made an offer which is based on your income abilities to repay an amount of money over a 5 year period. Providing 75% of the total amount of debt agrees to the proposal being made then the remaining 25% are committed to agree to the arrangement.
These arrangements usually run over a 5 year period. It is fair to say that you can look at an IVA like an interest free loan payable monthly over 5 years. The only problem is that if your income increases or you have any changes to your circumstances then you will have to pay more into the arrangement.
We often find that an IVA can be used to get creditors under control and all standing in line.
Once this has taken place it is quite feasible for a debtor to make an offer to creditors which is equivalent in fiscal value by a 3rd party who will make a one off payment to clear the IVA.
Debt management Plans- These are very effective in signalling to your creditors that you are in difficulty. The Debt Management provider will contact all of your creditors requesting that interest is frozen on the accounts and for our creditors to be made aware that something has happened but you have taken action to do your best to manage your debts.
The debt management plan is not recorded anywhere. Unlike an IVA which is a legal agreement, stamped by the court and recorded on the insolvency register. This last for 5 years. In our modest opinion we would say that a Debt Management Plan is a good short term solution which doesn't affect any assets that you have such as a car of finance or a property that you own.
It is a good way of managing creditors until you are in a position to apply something a little more solid. A lot of homeowners choose a Debt Management plan over an IVA purely because they will not be restricted from selling a property, unlike a bankruptcy or IVA where you will need authority from their legal department to sell.
So these are the options apart from specialist negotiation which is often required when the trust has been breached between creditor and debtor. Sometimes a creditor can apply hostile approaches towards a debtor simply because they are fed up with trying to deal with them.
We can assist in matters like this but costs will apply and you will need to complete the 3rd Party authority in which you will be enabling an officer of www.bankruptcy.co.uk to speak on your behalf.