When you have been declared bankrupt there are various restrictions and obligations that are applied to you. In ...
Read More »Bankruptcy Courts in and around Ascot
Reading County Court
Reading County Court
160-163 Friar Street
Reading
Berkshire
RG1 1HE
Slough County Court
Slough County Court
The Law Courts
Windsor Road
Slough
Berkshire
SL1 2HE
Ascot Bankruptcy Help
Filing for bankruptcy can be very beneficial choice for some, and a terribly devasting one for others. Obtaining the protection of a bankruptcy order is a civil right that you can enforce when your level of debt has become so unmanageable, and the prospect of you repaying it so impossible, that it is the only reasonable course of action.
There is an alternative called an IVA, which is arguably a much more suitable choice if you have a property (that’s in equity) that you want to keep, or vehicles worth more than £2,500. Unlike bankruptcy an IVA protects your assets, and is a contract between you and your creditors agreeing upon monthly instalments for a period of 5 years.
When facing insolvency it is worth considering both options, but whichever you choose, they both adversely affect your credit rating in the same way and they both provide a way to lift the burden of debt.
You can speak to a qualified insolvency expert for unbiased advice, with no-obligation, by completing the form on the right.
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