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Bankruptcy Advice from UK Based Experts         www.money-web.co.uk
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We can offer guidance on all aspects of bankruptcy and how it can affect you, your family and your lifestyle. If you are considering bankruptcy you may be in a position where creditors are already threatening legal action against you or your business for outstanding debts, if so you should contact us or seek other legal advice immediately.


We can help you fill in out all the legally required paperwork including your "statement of affairs" and "bankruptcy petition" and help with properly filing the petition with the courts. 

You can only declare yourself  bankrupt if you are truly insolvent, if you do not have enough income each month to cover both your reasonable living expenses and your debt repayments. The duration of a bankruptcy order will normally be a maximum of just one year. An income repayment order may be set up with your bankruptcy order if it is affordable for you to make payments into the court for a period of up to three years.

Whilst an undischarged bankrupt, you will be restricted in your financial and other dealings, some examples of the impacts of bankruptcy may be: you cannot be a company director or take on a number of other professional roles and you may not take out a mortgage or other loan types whilst in bankruptcy.

Recent changes to the laws governing bankruptcy mean that it has become a viable alternative to other insolvency solutions, in certain circumstances and will enable you to free yourself from any overwhelming debts that you have, enabling you to give your finances a fresh start.


(NOTE. Bankruptcy is a form of insolvency, and has serious consequences. It can affect your job, your home and your credit rating, so ensure you get proper advice before you decide on this course of action. If the equity in your property is greater than the amount of debt owed, then you are not deemed insolvent and should avoid bankruptcy as a debt solution. The value of other sale-able assets like cars, property and luxury goods will need to be taken in to consideration when declaring bankruptcy).


 

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Call us on 0141 274 2056.(10p per minute from UK landlines or contact us to request a call back)

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www.money-web.co.uk is an independent marketing website which links individuals and businesses to companies who offer specialist Financial Advice. money-web.co.uk cannot and do not offer financial advice. Money-web.co.uk is not responsible or liable for any financial service provided by or obtained through a third party, though each UK company we work with is fully authorised and regulated by the FSA. The information published on this website is correct at the time of publishing and intended for information purposes only and should not be construed as financial advice under the Financial Services and Markets Act 2000