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Bankruptcy is often seen as the fastest way of writing off unmanageable debt. As a nation a percentage of our people have found themselves in Debt Management plans and IVA’s or waiting for Payment Protection Insurance Repayments to come in to reduce or in some cases even clear debts.
Bankruptcy is a type of solution that works for certain types of scenarios.
The rule when considering bankruptcy is that if you have no assets like a business, car, property or job that would be affected by a bankruptcy or a debt relief order then you would be well advised to look at these options. We have noticed that a large percentage of people who we speak to who are in IVA’s or Debt Management plans are in them for the wrong reasons and would benefit greatly from bankruptcy or a debt relief order. It is completely wrong to think that Pensioners who only receive a small income and who have no assets are in these arrangements which can often span over many years and who simply have no chance of ever completing. therefore bankruptcy would be a better and more effective solution.
In addition we are aware that some debt management companies are aware that a lot of their clients in debt management would benefit from an alternative such as bankruptcy or an IVA or mini bankruptcy. They are more motivated to convert a clients debt management plan into an IVA as it will continue to generate them more fees. Opposed to a bankruptcy where they do not generally have the experience in this sector to provide a pro active approach to bankruptcy. The reason mainly for this is that they have probably used bankruptcy as a fear mechanism to avoid which actively promotes alternative methods such as Debt Management or IVA and provide no information about bankruptcy and the advantages of bankruptcy at all.
If you are in a debt management plan and your DM provider contacts you offering you an IVA then you should consider the following:
Our Bankruptcy Specialists are on hand 24/7 to provide you with the information that you need to make a decision about which way you want to go in the decision making process.
Bankruptcy.co.uk is The SAS of the Insolvency, Business Recovery and and Personal Insolvency sector !
Established in 1998 bankruptcy.co.uk offers protection from creditors and a straight forward direct approach to insolvency.
Specialising in turnaround our duty is to establish exactly what the problem is . So we need to know what it is that is surrounding you in order that we can apply a right methods to your situation. Our reactions are usually as fast as a client needs them to be and we can often attend hearings with clients at short notice. Our services are the difference between getting what you want and losing what you have got. We accessible throughout the day and out of ours there is a mobile number of a specialist that can help you.
To speak to some one now call 0800 5977 977 or a to receive a free copy of The Bankruptcy Survival Guide email sean@bankruptcy.co.uk or text your name and address to 07812917002.