Managing Bankruptcy
If you have no foreseeable way to pay debts and no or few assets this can be a good tool to control and get rid of your debts. Usually if you make yourself bankrupt it can only last 12 months but may have effects on businesses you can run and other restrictions may apply.
Always seek advice on such matters as it can be a long drawn out process and there is also quite a large court fee to make yourself Bankrupt.
For further information regarding Bankruptcy, other solutions and the implications it may have on your life please click on the following link:
http://www.bis.gov.uk/assets/bispartners/insolvency/docs/publication-pdfs/indebt-web
Debt Relief Orders
Debt Relief Orders are another form of insolvency for people with smaller debts and very little ability to repay them. They are restricted to people who have a total debt of no more than £15,000 and have less than £50 disposable income per month. There are other restrictions to taking out a Debt Relief Order (DRO), you cannot own anything worth more that £300 apart from a car which cannot be of more than £1000 in value. The fee for DRO's is £90 and can be paid over six months. Please contact us for debt advice.
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How we can help you...
Debt Advice by Phone
Are you struggling to make repayments, spending more than your earning or just worried about growing debt. We can offer you a debt management plan.
/how-we-help/debt-advice-by-phone.aspxDirect Advice
Talk to experienced and knowledgable advisors directly. We appreciate you are busy and aim to deal with your query as quickly and efficiently as possible.
/how-we-help/direct-advice.aspxCounty Court Judgements (CCJ)
CCJs or County Court Judgements can be a scary prospect, we can help complete forms required by the court to ensure you only pay what you can afford.
/how-we-help/county-court-judgements-(ccj).aspxDefault Notices
Default notices are a formal way of letting you know your behind on payments. If you have received a notice we can offer advice on how to manage that debt.
/how-we-help/default-notices.aspxRent / Mortgage Arrears
When you miss an expected payment, the account falls into 'arrears', which is a legal term which is used to describe overdue debts.
/how-we-help/rent-mortgage-arrears.aspxBaliffs
There is a lot of "Urban Myth" about what bailiffs can and can't do, most of it is not correct so don't panic. We can answer your questions on what they can and can't do.
/how-we-help/baliffs.aspxManaging Bankruptcy
Bankruptcy is too often used as a way to escape debt. We can help advise on whether bankruptcy is the route to choose and how to proceed.
/how-we-help/managing-bankruptcy.aspxRecent Redundancy
Sudden loss of a job can put your finances into a spin, we can advise on how to priorise debt and how to manage your finances.
/how-we-help/recent-redundancy.aspxIVA or Individual Voluntary Arrangements
An IVA is a solution for debt that should be compaired with others, it may be the best solution for your situation.
/how-we-help/iva-or-individual-voluntary-arrangements.aspx