If you have a debt problem, one of your options for sorting it out might be bankruptcy. Bankruptcy is an insolvency option for those in severe financial difficulties who cannot repay their debts in a realistic period of time. Bankruptcy is a solution only available in England, Wales & Northern Ireland
As well as applying for bankruptcy yourself, someone else you owe money to (a creditor) can apply to make you bankrupt, even if you don’t want them to.
Remember, Bankruptcy might not be your only option and it might not be the most appropriate debt solution for your needs. Our trained advisors can assess your financial situation and help you find the most suitable option for you.
Listed below are some of the Main Advantages & Disadvantages of Bankruptcy