What is Bankruptcy?
If you are struggling with substantial amounts of debt and find yourself in a position where you cannot afford to repay your creditors, you could be classed as insolvent.
Bankruptcy is a type of debt solution that enables people in such circumstances to deal with their debt problems, eventually leading to the individual applying for Bankruptcy to be freed from their debts after a period of time.
Bankruptcy is a serious matter and should be considered as a last resort due to the repercussions associated to going bankrupt. Assets including your home, business and possessions could be used to repay your creditors.
Bankruptcy criteria
Like many debt solutions, qualifying for Bankruptcy depends on your personal situation, including the amount of disposable income you’re left with after paying essential bills. Therefore it’s essential you seek professional debt advice before proceeding with an application.
You could qualify for Bankruptcy if you:
Call us on 0800 096 1331 for expert advice.
Fees
Initial advice is free, however if you decide to pursue Bankruptcy, fees will apply for the Bankruptcy support service which is provided by our sister company, Baker Evans Limited.
At Baines and Ernst, we’re committed to providing the highest standards of customer service at competitive rates. For information on our fees for our full range of services, please click here.
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