Being in serious debt can mean you run the risk of going bankrupt. But you should always view bankruptcy as a last resort. Bankruptcy in the UK can often be avoided through an IVA (Individual Voluntary Arrangement), Debt Management Plan or another debt solution. It all depends on your individual circumstances.
If you can no longer meet the debt repayments to your creditors then either you or your creditors can present a bankruptcy petition to the courts. Your creditors can only do this if they are owed at least £750 by you in unsecured debts. Call us for debt help you can trust.
Call us free on 0800 083 1433 to find out more.
Up-to-date bankruptcy and debt advice
Laws in the UK relating to bankruptcy do change from time to time, so it’s best to talk to us to ensure you are aware of exactly how bankruptcy will affect you. We can also give you the latest debt advice on other debt solutions such as IVAs, or Debt Management Plans.
Legal obligations
If you do file a petition for bankruptcy in the UK, then the court’s Official Receiver will handle all the aspects of your bankruptcy. This includes liaising with your creditors. You will also be legally obliged to co-operate fully.
Call us free on 0800 083 1433 Our phone lines are open 8:00 am and 9:00 pm Monday to Friday, or 9:00 am and 5:00 pm on Saturday and 10:00 am to 4:00 pm on Sunday. You can call free for an initial chat about your own debt situation.
