The UK's leading Independent Bankruptcy Advice
Providers of personal and commercial bankruptcy advice no matter how complex the case might be.
Our clients range from the average man on the street to Barristers and professionals that find themselves stuck in the complex world of insolvency and the hostile approach that pressing creditors take on the indebted debtor.
We provide a revolutionary service to UK clients that cannot and will not find debt solutions like ours anywhere else.
We listen very carefully to what you are saying and wherever we can will try our level best to solve the problem.
We aim to respond to a call back request within 1 hour. However our agents mobile numbers are available for immediate response.
An initial review is required to gain an understanding of your circumstances is the first step.
We will then provide assistance with proceeding with the required solution.
We are transparent when it comes to our services and fees.
We are especially pleased in 2014 to be able to help people that think that they have to enter bankruptcy as they have negative equity on a property that they either purchased or remortgaged after 31st Oct 2004 where they took out an interest only mortgage generally through a broker and the mortgage was self certificated and took them beyond the age of retirement.
These are mis sold mortgages and we are finding that the claims against the lenders are so substantial that the compensation available is and can be enough to not only clear unsecured debts but also have money left over.
If you feel that you are entering bankruptcy or thinking about it and you have one of these mortgages then we cant wait to speak to you to get the ball rolling!
Bankruptcy is often seen as the fastest way out of debt
It 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 01425 600129 or 07812917002.
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.
These are the options apart from specialist negotiation which is often required when the trust has been breached between creditor and debtor.
Creditors often 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.
My PPI claim had been sent to the Receiver as but I was discharged from bankruptcy 2007. Do I have to payment Third party acting on my behalf If you have engaged a no win no fee service to manage the process of a PPI Reclaim for you then you would almost certainly have signed terms of business agreeing to...read more →
I have just had a ppi payment sent to the insolvency practitioner is this right it’s over six years since I was made bankrupt Yes it is absolutely correct although you have been unlucky as some banks have made the payments directly to the clients. The reason it is correct is that these are realisations that are borne from the...read more →
Hello, i work as a midwife but have been experiencing difficulties for sometime now and think it maybe better to go bankrupt as i have so many debts to pay, but am really nervous about lthe possibility of losing my job but the debt just keeps mounting. I am in a debt management plan but the interest on payday loans...read more →
Will i lose my job in the nhs as a clerical officer if I file for bankruptcy? I am worried that I will lose my job but I really need to consider bankruptcy as a fresh start as I can’t see my way out of debt? This shouldn’t make any difference to your join unless you have an employment contract with...read more →
Good day. I have been living here in Glasgow (Scotland) for 1.5 years. Came form Lithuania (EU), where I had mortgage. Contract with the bank already had been stopped, the house was sold, but… the remaining debt are very big – more then 100.000 eur. Would it be possible to run a bankruptcy process? I’m working but still have JobSeeker...read more →