Understanding Bankruptcy

What is Bankruptcy?

Bankruptcy occurs when a business or individual cannot repay the debts owed to creditors. You can make yourself bankrupt, or be forced into it by one of your creditors. Bankruptcy essentially enables you to write off all (or most of) your debts. It can also ensure that creditors can’t take further action against you, giving you a fresh start, and another chance to get things right.

Is Bankruptcy Right For Me?

If you’re considering personal bankruptcy, firstly ask yourself, is there any other viable way that you can pay your debts? Do you have assets of value? Equity in your home that you can use to pay?

Bankruptcy should only be considered if you have no positive assets, and that it’s highly unlikely that your situation will improve. Bankruptcy is seen as the fastest way out of debt. Every person has their own unique reasons for looking at personal bankruptcy. It should be looked at as a strategy and will need to be acted on quickly in some instances.

Alternatives To Bankruptcy

Choosing to become bankrupt is a big decision. There are a number of alternative options, such as debt consolidations loans, debt management plans and voluntary arrangements (IVA) to name a few. Individualised to each and every person or business owner. Speak to one of our specialists today to talk through your financial situation

individual insolvency

Personal Bankruptcy

From individual voluntary arrangements, to debt management, to bankruptcy, we are here to help you find a fresh start, with no personal unsecured debts.

Bankruptcy Insolvency Practitioners

Business Bankruptcy

In many instances directors can avoid expensive liquidation fees if they have personal guarantees by choosing personal bankruptcy
Bankruptcy Practitioners

Understanding Bankruptcy

Perhaps you just need some impartial bankruptcy help and advice? If you’re considering going bankrupt, take a look at our understanding bankruptcy page,

Testimonials

Suvo D
Suvo D
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I had a few questions about my bankruptcy and I needed advice on what I need to do when I move out of the UK permanently. Sean was very kind to do so and I am more confident now.
Michelle Pawson
Michelle Pawson
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I called bankruptcy limited, as I wasn't sure what to do about bankruptcy and needed some information about it. I spoke to a lovely chap on the phone and explained my situation to him and he listened to everything I said. he replied with some clear advice and I had more of an understanding of my situation and what I should do. I am now following his advice and feel so much happier. I would recommend bankruptcy limited they are a professional company
Kira Westney
Kira Westney
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We really can't thank Sean enough, after about 2 years of trying to lift my partners bankruptcy we found Sean at bankruptcy limited. He never gave up even through all the struggles of the courts etc closing through the pandemic, he was always on hand answering calls and txs quickly and efficiently. We were honestly worried of the outcome but he got us the best outcome possible and we are over the moon and can finally move forward with our lives. I would and will recommend Sean 10 out of 10 for service, affordability and professionalism. Thank you again.
Helen Walsh
Helen Walsh
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This company helped through a difficult time.I first contacted them because I was very worried after receiving threatening dept letters. The service and advise I received from them was excellent, it certainly empowerd me and I was able challenge this problem more positively and stay calm.
Tracey Hobbs
Tracey Hobbs
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I rang this company today upset worried and stressed about my financial situation and after to speaking to a very professional and understanding man Sean.. my worries feel more than halved thank you so much for your help .. very highly recommended
A Kay
A Kay
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Called and spoke to Shaun. Got really good advice for nothing, very hard to find such people nowadays! Appreciate your support and guidance.
audrey 123
audrey 123
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I made a call to this service,to ask for some advice .so glad I did .I was given fantastic advice .Nothing to much trouble highly reccomend this service 5☆
Tara9933
Tara9933
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You may have heard of a saying “ you’ve tried the rest now try the BEST” Sean and his team truly are the BEST KIND CARING AND PROFESSIONAL
Sarah Jackson
Sarah Jackson
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Really fast friendly service at what I can only describe as a truly difficult time. Supportive and efficient.
Robert Ramsey
Robert Ramsey
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Excellent service, highly recommend it
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