Tag Archives: Bankruptcy

in Bankruptcy, Debt Management

Bankruptcy FAQs

Will bankruptcy affect my employment? This will vary from position to position and from one employer to another. It can stop you doing certain jobs, such being a financial advisor or company director. Check your contract or speak to your HR department or employer before you start your bankruptcy to see if your role, or […]

in Bankruptcy, Debt Management

Alternatives to Bankruptcy

Bankruptcy isn’t the only debt solution that’s available. If you’re struggling with problem debts, it’s important to be aware of all of the different options that could help you. Here are the alternative solutions available – speak to a debt advisor as they’ll be able to advise which is the most suitable for your situation. […]

in Bankruptcy, Debt Management

What happens when bankruptcy finishes?

When you successfully come to the end of your bankruptcy, you’ll be officially discharged. That means the bankruptcy restrictions are usually removed and you’re released from the debts you owed when your bankruptcy order was made. In most cases, this will happen automatically, even if you’re still making contributions. Will bankruptcy affect my employment? Bankruptcy […]

in Bankruptcy, Debt Management

What is undischarged bankruptcy?

An undischarged bankrupt is someone who is still going through the process of bankruptcy, which usually takes a year. They’ll have certain restrictions placed on them, such as: not being able to borrow more than £500 without informing the lender of their bankruptcy not being able to hold certain positions in public office or act […]

in Bankruptcy, Debt Management

How much does Bankruptcy cost?

There are three ways you can be made bankrupt, with different costs incurred for each: You can make yourself bankrupt – you’ll need to complete an online application called a petition. This is then submitted to an adjudicator at the Insolvency Service and, once received, they will consider your application. If it’s accepted, a bankruptcy […]

in Bankruptcy, Debt Management

How to declare yourself bankrupt

Firstly, you need to make sure that bankruptcy is the most suitable option for you. This can be done by looking at the benefits and consequences, considering the alternative options, and seeking expert advice. If you have sought expert advice, and have decided that bankruptcy is the most suitable way forward, you will need to […]

in Bankruptcy, Debt Management

Who can make me bankrupt?

If you owe one of your unsecured lenders £5,000 or more, they could apply to the court to try and make you bankrupt. However this is often seen as a last resort and can be avoidable by making your lenders aware of any difficulties you may be experiencing in making your agreed repayments. If you’re […]

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