Bankruptcy Advice

For free financial advice call 0800 043 50 43

Testimonial

Thanks for all your effort and work sorting out our financial affairs and helping us attain our IVA. I can't even begin to tell you how upset I was and how relieved I am now. Mrs B, Lancs

If you are considering filing for bankruptcy finance advisers.co.uk can offer assistance. Whether you require information about bankruptcy procedures or you are looking for alternative solutions to your debt problems our group provides free impartial advice.

Advantages and Disadvantages

When compared to other alternative solutions to personal debt problems filing for bankruptcy has both benefits and drawbacks :–

at the end of the bankruptcy most of your debts are written off
you receive court protection from any further legal action by your creditors
any valuable assets you have may be sold to repay the debt
the Bankruptcy Order will be made public

Bankruptcy Overview

In some cases applying for bankruptcy may be the best option for a person with debt problems. An application for bankruptcy can be made either by yourself or alternatively by a creditor owed greater than £750.

If you are made bankrupt an Official Receiver is appointed to manage your finances and the repayment of your debts. Typically you will be discharged from the bankruptcy after 12 months.

If you would like to speak to one of our advisers simply call us on freephone 0800 043 50 43 or alternatively complete our enquiry form. Finance Advisers is part of the Spencer Hayes group of professional debt counsellors. We operate nationwide and have offices located in Manchester, London, Cardiff, Newcastle, Belfast and Derry.