File for a Bankruptcy Order7703411

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. Following bankruptcy your creditors are not permitted to make contact with you for any prior debts because they are no longer your obligation. There's no threat of bailiff action either.

If your mounting debts are unmanageable and you cannot see a practical prospect of clearing these debts in the expected future, then submitting for the protection of a Bankruptcy Order might be the solution for you. What sets bankruptcy aside from the other debt alternatives is the potential to wipe off 100 % of the debt and have you discharged from bankruptcy within 12 months. Once discharged you no longer have the bankruptcy restrictions put on you.

You should recognize that it is extremely improbable that you can borrow cash from the high street lender. It is not unusual for a self-employed person to get start up or project financing from a private source which is satisfactory for an un-discharged bankrupt (providing the lender knows your situation). How to become bankrupt

After you have paid the court charges the District Judge will make their evaluation and notify you.