Debt Help
Bankruptcy offers (like Debt Management and IVA) relief of dealing with numerous creditors and they are forced to recognise that they will receive less money that is actually owed.

When comparing an IVA with Bankruptcy you will generally pay back less with Bankruptcy – this shouldn’t sway your decision between the 2 options however and you should seek advice on the best route for you.

Once the bankruptcy period is over and you are discharged from bankruptcy most debts will be written off and you will no longer be chased for them.

Bankruptcy will affect your ability to borrow in the future as you are likely to have to declare that you were a previous bankrupt when applying for finance – hence the reason other options are normally explored first.






More information about debt management and advice:


Write off all the debt you cannot afford and avoid legal action. Government legislation that helps you clear your debt in 60 months.
Lower your monthly payments on your existing debt with one affordable monthly payment plan. Hassle free and flexible plans for if your situation changes.
Bankruptcy is a consideration if you simply cannot pay debts that you owe and you have already considered Debt Management and an IVA.
A Trust Deed is a legal process only available to residents in Scotland and offers an alternative to bankruptcy.
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