Bankruptcy

In terms of solving debts, bankruptcy is an extreme solution, and should only become an option once all other avenues are exhausted.

This section offers an overview of the Bankruptcy process, and we provide a free service offering you professional advice.

Bankruptcy is a very public process and the procedure converts all your possessions and disposable income into cash to help repay some or all of your outstanding creditor commitments. 
 
If you find yourself in serious financial difficulties where you are considering bankruptcy, please give our specialist advisors a call on 0808 131 9100 so we can help guide you through your options.

Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.

Failure to complete the term of an IVA can result in bankruptcy.

(In Scotland, a PTD is the equivalent to an IVA.)