Apply for Bankruptcy9475449

If you haven't got any assets to protect like a house, savings or an expensive car (over 2500) and if your occupation is not affected, then bankruptcy may be more appropriate for you than an IVA. Following bankruptcy creditors are not allowed to make contact with you for any previous debts because they are no longer your obligation. There is no threat of bailiff action either.

If your mounting debts are unmanageable and you cannot see a realistic prospect of clearing these debts in the foreseeable future, then filing for the protection of a Bankruptcy Order might be the solution for you. Once declared bankrupt you may be subjected to specific bankruptcy restrictions. You won't be able to obtain credit over 500 without telling the lender that you are broke. Realistically, you will have difficulty getting any credit during the 12 months that you are bankrupt, but once discharged it will become increasingly simpler and a discharged bankrupt will still be able to have a mortgage later on.

You should understand that it is rather improbable that you can borrow funds from the high street lender. It isn't uncommon for a self-employed person to obtain start up or project funding from the personal source which is satisfactory for an un-discharged bankrupt (providing the lender is aware of your situation). Wipe off your debt

After the court costs have been paid by you the District Judge will make their appraisal and notify you.