Bankruptcy has always carried a certain stigma to it. This is something that is gradually changing in the ...
Read More »Bankruptcy Courts in and around Bideford
Barnstaple County Court
Barnstaple County Court
8th Floor
The Law Courts
Civic Centre
Barnstaple
Devon
EX31 1DX
Exeter Combined Court Centre
Exeter Combined Court Centre
Southernhay Gardens
Exeter
Devon
EX1 1UH
Plymouth Combined Court
Plymouth Combined Court
The Law Courts
10 Armada Way
Plymouth
Devon
PL1 2ER
Torquay and Newton Abbot County Court
Torquay and Newton Abbot County Court
The Willows
Nicholson Road
Torquay
Devon
TQ2 7AZ
Bideford 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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