Most people are discharged from bankruptcy after 12 months at which point all included debts are written off, giving a fresh start.
Any repayments would be at an affordable amount and last up to 36 months.
The Official Receiver, a civil servant, will notify all creditors and administer payments due to them.
If needed, we can help by introducing you to specialist insolvency solicitors who can advise on specific matters or concerns you have relating to bankruptcy.
Bankruptcy could stop bailiffs.
Bankruptcy petitions are now made online via the Insolvency Service portal.
BankruptcyToday.co.uk is not regulated and is for fact-finding only. We can help assess your circumstances and point you to someone who can provide available options that suit your debt criteria.
If you decide that an IVA (Individual Voluntary Agreement) is not the best option for you after we have prepared the necessary information, you can opt out of the process and have all of your details removed. We receive a fee from the third party that we refer you to for introducing you and for the work we have completed. However, you will not be responsible for paying this fee. The third party will contact you directly to continue the process of your IVA application or to explore other solutions, but only with your permission after we have introduced you.