Bankruptcy Criteria

What ever solution you decide, with our Bankruptcy support service you will be able to speak to our specialist team of advisors who will look to provide help and guidance in your difficult situation. The basic criteria for Bankruptcy are as follows:

Do you owe more than £750.00?

Do you owe this money to more than 2 different companies?

You can not meet you normal contractual payments.

The one stipulation for being eligible for bankruptcy is that you have to actually be insolvent. This means either not being able to afford to repay your debts as and when they are due or having debts which are higher in value than your assets. For most people bankruptcy is their worst nightmare and they will do anything possible to avoid it, but for some it's an effective way to deal with their debts:

Pensioners.

Unemployed individuals.

People with no valuable assets such as a house or vehicles.

Students.

It's important to note that student loans cannot be included in your bankruptcy and these will be treated separately and must be paid off in full. Bankruptcy is often perceived by people as a magic wand to get rid of their mounting debts but the reality is very different.

It's therefore vital that you speak to a professional debt advisor before looking at bankruptcy as a solution. What seems like an impossible situation to you may actually be suitable for another type of debt solution. In many cases, bankruptcy results in people losing their homes and jobs which is why it's always a last resort for the majority of the population.

Can debt solutions help me get out of debt?

YES we can. Everyone’s personal situation is different and each debt solution is different so we need to work out which will best suit your financial needs.

We will complete a FREE 20 minute fact find with you to work out what your earning and spending and this will let us know how much you can afford to pay to your creditors and also which debt solution is best for you to help you get out of debt. You are under no obligation but I am sure you will be 100% happy with what out debt advisors can do for you and we have the lowest debt managenent fees in the industy

We pride ourselves in our friendly, professional approach to finding the right debt solution for every one of our clients, which is honest, confidential and always the ‘best advice’ based on your individual circumstances.

If you would like to speak to one of our friendly, professional debt experts about any of our debt solutions you can either call our debt solutions helpline on: 0845 159 6093 or complete our online contact form and one of our debt advisors will call you back within the hour.

Start you debt free life today! with one of our debt solutions.

Debt Management | Individual Voluntary Arrangement | Protected Trust Deed | Bankruptcy

Also have a look at out "DEBT FEEs" chart and see what the more popular debt management companies are charging.