Personal Bankruptcy Experts
We are one of the UK’s leading personal bankruptcy consultancies, offering bankruptcy advice to company directors, executives, and private individuals. Based in Northfleet, we offer our services to clients across England and Wales. We provide full market advice during the consultation process to ensure you are fully aware of the options open to you.
What is Personal Bankruptcy?
Personal Bankruptcy is a form of insolvency and is an appropriate option for someone if they are unable to pay their debts within a reasonable amount of time. Filing for personal bankruptcy will write off any unsecured debts you owe, however, any assets you own will be sold to help pay off the debts.
View the latest rules and guidelines on personal bankruptcy and insolvency here.
If you have any further questions on personal bankruptcy or if you have any questions about bankruptcy as a company director, get in touch or view some of our blog posts here.
What are the advantages of Personal Bankruptcy?
- All your debts are written off
- Personal Bankruptcy only lasts 12 months
- Creditors must stop chasing their debt
- Straightforward procedure
- We will be with you all the way
- No longer carries the stigma it used to
What are the disadvantages of Personal Bankruptcy?
- £680 payment on submission of your bankruptcy application to the Insolvency Service
- Personal Bankruptcy advertised in the press
- Bankruptcy as a Company Director means you can no longer hold that position
- If you borrow £500 or more, the lender (person/company) must be aware you are personally bankrupt
- Cannot hold certain positions in the community
- Your assets are in the hands of the Official receiver
- Credit rating detrimentally affected
How our personal bankruptcy consultancy services work
1. Get in Touch.
– If you’re thinking of filing for bankruptcy as a company director or high-level executive then get in touch with us and we’ll discuss your current situation and whether personal bankruptcy is the appropriate solution for you. We will dedicate a Client Director to your case from start to finish.
2. Operate on your behalf if you file for Personal Bankruptcy.
– If you decide that personal bankruptcy is the best option for you, we will be with you every step of the way and act entirely on your behalf. We will firstly look at how to protect any third-party interest (e.g. matrimonial interest in property etc). We will then produce all the legal documentation (Bankruptcy Application or Statement of Affairs) and physically attend court with the clients as well as all subsequent meeting(s) with the Insolvency Service/Trustee.
3. We stay with you until the end.
– We will remain on retainer until you are discharged from personal bankruptcy. During this time, we will (if appropriate) negotiate on behalf of the client/3rd party the purchase of the bankrupt’s “Beneficial Interest” in assets such as property.
This information is for guidance purposes only, you should seek professional advice regarding your circumstances.