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Bankruptcy Information
Bankruptcy Information As a company we are dedicated to providing our clients with the best advice at all times, because of this we would only recommend bankruptcy to a client suffering debt problems if it was the most effective debt solution for them. There are many different ways of dealing with debt and in the majority of all debt problems an alternative to bankruptcy can be sought.
Bankruptcy is a grossly unfair way of dealing with people’s debt problems, with both the debtor and the creditors usually loosing out.
Bankruptcy Information
In bankruptcy any assets of a reasonable value that you own will be taken off you and sold by the official receiver.
Your Bankruptcy will be advertised, this will happen in the local press where you live and also the London Gazette.
Bankruptcy could affect your employment. It is getting more and more common for employers to put clauses regarding bankruptcy in their contacts of employment.
Following your bankruptcy it could be very difficult to obtain any future credit or mortgage.
You can not act as a company director whilst you are classed as a bankrupt.
Your Bankruptcy order may require you to make a monthly payment for three years in to your bankruptcy.
If you have been declared bankrupt before the term of your bankruptcy may be increased from anywhere between five and fifteen years.
Bankruptcy will stop you from operating a bank account, which may mean it is difficult for you to receive your wages or any benefits.
Bankruptcy is by no means an easy option it will affect your life in more ways than you would imagine. It is therefore vital to explore any alternative options to bankruptcy that there maybe. Bankruptcy really should be your very last option.
Call now for free confidential and impartial advice on bankruptcy on 0800 583 20 20
Or complete our online bankruptcy information request form below:
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