Write off up to 80% of your debt
Stop your creditors taking court action
Stop yourself from going bankrupt
Freeze all interest and charges on your debt
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Bankruptcy Pros and Cons

• What is Bankruptcy?
• Bankruptcy Pros and Cons
• Bankruptcy FAQs

Bankruptcy Pros and Cons

Pros:

  • Peace of mind
  • Possible automatic discharge after one year

Cons:

  • You may lose your home or assets
  • If you are an accountant or lawyer, you are forbidden to continue practising, so you will need to find a new line of work
  • Obtaining credit will be a problem. Any applications over £250 will require permission from the lender
  • You cannot act as a company director
  • You financial and personal details may be examined in court
  • You must have the permission of the court if you want to start a limited company or been involved at management level
  • You cannot trade under any other name unless you inform all persons involved with the bankruptcy
  • You may not become a member or part of the local authority
  • Your credit can be affected for up to six years after the filing of bankruptcy

The UK Debt Advisor can help you process your claim for Bankruptcy.
Call us free on 0800 987 5337 or use the call back phone below.