Bankruptcy
Bankruptcy deals with debts you cannot pay
The bankruptcy Proceedings:
•free you from overwhelming debts so you can make a fresh start, subject to some restrictions.
•makes sure your assets are shared out fairly among your creditors.
Anyone can go bankrupt, including individual members of a partnership. There are different insolvency procedures for dealing with companies and for partnerships themselves.
Some of the advantages of bankruptcy are:
•Legal protection from your creditors
•Reduce pressure and contact from your creditors
•All of your debt will be written off at the end of your bankruptcy
and the disadvantages:
•You could lose your home or valuable assets
•You may struggle to get credit in the future,
Costs:
•Court fee £150
•Deposit of £450 towards administering your case
•Creditfix admin fee of £500.
•Once you are Bankrupt any further fees come from the realisations of any assets, as agreed, with Creditors.
We have a host of services and all it takes is a few minutes to contact us (right). We will help you on your way to finding the answer to your debt problems.
To take control of your finances call us now on 0800 0431 431
