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Before and After Bankruptcy Consultation.

Speak to our team: 08:00 to 22.00 for your convenience:

Bankruptcy is often viewed as the fastest and cleanest way out of unmanageable debt provided you don’t have any significant assets or a large income.

Bankruptcy lasts for 12 months usually. We say ‘usually’ because if you don’t cooperate with the Official Receiver or have hidden assets and bank accounts, then you might be subject to a  bankruptcy suspension or Bankruptcy Restriction Order. We provide a full bankruptcy administration service that ensures that your bankruptcy application is completed correctly and the income and expenditure shows you in the best possible light. The incorrect completion of the income and expenditure is where many people who manage the service themselves fall into difficulty and end up contributing towards an Income Payments Agreement (IPA) for three years.

Our team provides you with a full understanding of your circumstances and will provide you with the information you need to make an informed decision.

The approach of bankruptcy can be a daunting prospect for many people. This being the case there are solutions and adjustments that can be easily made to get through difficult and challenging times.

Bankruptcy is a civil procedure that lasts for 12 months. In order to be made bankrupt, the bankruptcy Adjudicator (it is no longer a Judge) will have to issue an order against you.  This can be a way of clearing debts you can’t pay. It can either be done at your own request or at the request of your creditors or an IP (insolvency practitioner).  Bankruptcy may be an appropriate solution for someone with substantial debt, who has a modest income and no assets.  At the end of the bankruptcy period, most debts are cancelled.

Bankruptcy discharges a person from overwhelming debt and provides them with a fresh start. In fact, the Insolvency Service feels so strongly about giving people a Fresh Start that it is actually mentioned in their Technical Manual. Anyone can enter into bankruptcy, including individual members of a partnership.  If you are a company or a partnership business, then the insolvency procedures are slightly different.  The decision to file for bankruptcy is often not easy and this is why companies like our exist – to provide impartial guidance at a difficult time.

We suggest you read through all of the information on this website then call us on 01425 600129 with more specific questions, which should enable you to make an informed decision.

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