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 Stansted
Chelmsford County and Family Proceedings Court
Chelmsford County and Family Proceedings Court
Priory Place
New London Road
Chelmsford
Essex
CM2 0PP
Colchester County Court
Colchester County Court
Falkland House
25 Southway
Colchester
Essex
CO3 3EG
Southend County Court
Southend County Court
Tylers House
Tylers Avenue
Southend-on-Sea
Essex
SS1 2AW
Stansted 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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