File for a Bankruptcy Order6027710

If you have not got any assets to guard like a house, savings or an expensive car (over 2500) and if your vocation is not affected, then insolvency may be more suitable for you than an IVA. You may be discharged after no more than 12 months and possibly even sooner depending on your circumstances (some individuals are discharged after 6-8 months). All your unsecured debts will be written off by insolvency and none of the creditors will have the ability to pursue you for them anymore.

By seeking assistance in preparing for bankruptcy you will have peace of mind that the process will go smoothly with no sudden surprises. What sets bankruptcy aside from another debt options is the potential to wipe off 100 % of the debt and have you discharged from bankruptcy within 12 months. Once discharged you no more have the bankruptcy restrictions put on you.

You should understand that it is extremely unlikely that you can borrow funds from a high street lender. It is not uncommon for a self-employed person to get start up or project funding from a private source which is acceptable for an un-discharged bankrupt (providing the lender is aware of your circumstances). Wipe off your debt

Once you are discharged from bankruptcy (usually after 12 months, but sometimes sooner) you can rebuild your credit file.