Bankruptcy Advice Online

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read moreBankruptcy can free you from overwhelming debt to give you a fresh start on your finances, however it is a serious commitment and should not be entered into lightly. Make sure bankruptcy is your right option by taking the free bankruptcy test and comparing the options available to you online. The cost to go bankrupt varies throughout the UK. In England and Wales bankruptcy fees total 680. Help may be available with the cost to go bankrupt if you are in receipt of certain benefits, and some grants are available from Bankruptcy charities.

read moreBankruptcy is an option that often has to be considered when you cannot pay your debts as they fall due. A first time bankrupt with debts will generally receive their discharge one year after the date of the bankruptcy order. Although bankruptcy has a bad stigma and is publicly advertised, it should always be considered when dealing with individual insolvency cases. However bankruptcy is just one of several options to be considered when you cannot repay your debts. If you are ever faced with the prospect of bankruptcy you should always look at alternatives as soon as possible such as an Individual Voluntary Arrangement or a Debt Management Plan.

read moreIf you go bankrupt the Official Receiver may have to sell your home to go towards paying your bankruptcy debts. This applies whether the home is freehold or leasehold and whether it is solely or jointly owned. Please note that if your home is mortgaged and you do not keep up your payments, your lender may be able to sell your home. You should consider contacting your lender about your bankruptcy and your mortgage payments. If you are considering going bankrupt or are being threatened with bankruptcy, and are worried about what will happen to your home if you go bankrupt, it is crucial that you seek advice as soon as possible to see what help is available to protect your home.

read moreBefore you take any action to apply for your own bankruptcy, you should seek expert advice about bankruptcy and the alternatives to going bankrupt that are available to you. The Insolvency Service and the courts cannot advise you on specific insolvency problems; for example, whether you should go bankrupt. This is a formal and legally binding arrangement between a Debtor and their Creditors. To propose such an arrangement you will need the services of a licensed Insolvency Practitioner or IP. Proposals to creditors can be based on a lump sum offer or regular monthly payments.

read moreThe Official Receiver is a civil servant in The Insolvency Service and an officer of the court. He (or she) will be notified by the court of your bankruptcy. He will then be responsible through his staff for administering the initial stage, at least, of the insolvency case. This stage includes collecting and protecting any assets and investigating the causes of your bankruptcy. The Official Receiver's staff will contact you immediately if they know that action is urgently needed in relation to your assets.

read moreIf you're one of the many people being sent constant letters, text messages and not answering your phone without looking at "whocallssme.com" in order to avoid the many (and we mean MANY) phone calls by collection agencies. 11 steps to deal with debt collectors. If your debts have been in arrears for a while, a lender has issued a default notice, or your lenders have lost contact with you, they will probably refer or sell your debt to a debt collection agency to chase the money in. Debt collection agencies are basically companies that specialise in collecting payments of debts owed by individuals or businesses.

read moreBankruptcy can be an effective way to solve personal debt, however it should ALWAYS be considered as a LAST RESORT, and the Bankruptcy Adjudicator will expect you to HAVE considered any alternatives that you may qualify for. By completing the quick online test you will get a free assessment of whether you qualify for bankruptcy and what impact it will have on your current situation. Bankruptcy Advice Online is a trading name of ATN Group Limited 2019 All right reserved. Registered office: Kemp House, 160 City Road, London, United Kingdom, EC1V 2NX.

read moreAverage Family Debt Increased By 4,000 In Last Six Months Family debt has risen to an average of 13,520 owing to the availability of cheap credit, a report by Aviva suggests. Have you received a letter threatening an attachment of earnings? In this guide we explore what an attachment of earnings order is, how they work and how to defend. In order to go bankrupt in Scotland you need to meet slightly different criteria to that in England, Wales or N Ireland. In this guide we explain how to go bankrupt in Scotland.