How it works
Complete our 30 second online assessment
Our quick, free online assessment asks the essential questions to determine if you qualify for bankruptcy. Start by clicking the yellow button below. Please ensure to give details as accurate as possible.
Speak to one of our expert bankruptcy advisors
We're proud of our friendly team and the service they provide. We know you're going through a hard time and we're to help with any support or advice that you might need. Just give us a call.
Choose the best plan for your circumstances
Bankruptcy may or may not be the best option for you. Our team will give you a balanced view on the options available to you, so that you can make the right decision for your future.
Here's what our customers have to say
Your questions answered
- Why trust Bankruptcy Bureau?
- What is bankruptcy?
- Is bankruptcy right for you?
- What are the alternatives to bankruptcy?
Why trust Bankruptcy Bureau?
We’re experts in debt management who specialise in bankruptcy cases. Our expertise and understanding of financial situations means that we’re able to provide you with all the possible solutions, swiftly and efficiently.
Further to our level of experience, we pride ourselves on having top levels of customer service. We understand that being in debt can be as stressful as anything else we have to go through in life, so our aim is to ease that stress as much as we possibly can. Our customers tell us that’s what makes us different.
At the end of the day, if we can provide you with the best solution to your debt problem whilst easing your levels of stress then everybody is a lot happier and that’s why people recommend us.Free bankruptcy assessment
What is bankruptcy?
Bankruptcy is a legal status and form of insolvency whereby all or most of a person’s debts are written off. Its an option for people who are in severe financial difficulties and may be suitable if they don’t have the present or future means to pay of those debts in a reasonable amount of time.
Being bankrupt isn’t a permanent status, it usually lasts about a year, but it can affect your ability to obtain credit for a lot longer that, so shouldn’t be taken lightly, but it could be the right option for many as a way to clear debts and make a fresh start.Free bankruptcy assessment
Is bankruptcy right for you?
Bankruptcy can write off all or most of a person’s debts. It can ensure that creditors can”t hassle or take action against you. This can give you a fresh start, wipe the slate clean, so to speak – give you another chance to get things right.
Having said that, life under the restrain of bankruptcy isn’t always easy and comes with a number of impacts and restricitons on your day to day life. For example.
- Your assets may be sold to pay creditors. Certain goods can’t be taken if they are a necessity for everyday life (eg clothing, beddings, furniture, work equipment) .
- If a homeowner, you may be forced to sell your property, depending on the level of equity available.
- You may be forced to pay some of your income to creditors
- You won’t be able to get credit of more than £500 without telling the lender about your bankruptcy status
- You’re likely to struggle to get credit for several years.
- You can’t be involved in running a business without permission from a court.
Bankruptcy can make life hard for the first year, but in most cases, after than first year, the money owed is usually written off and you can make a fresh start.Free bankruptcy assessment
What are the alternatives to bankruptcy?
Choosing to become bankrupt is a big decision. There are a number of alternative options to making arrangements with your creditors, such as:
- Informal agreements – you make arrangements with your credits and agree on a schedule for those repayments
- Individual voluntary arrangements (IVAs) – repayment agreements are negotiated by an insolvency practitioner
- Administration orders – an order is made for you to make monthly payments to your local court. The court then divides those payments between creditors
- Debt Relief Orders – a formal insolvency process for people with no assets, low income and no prospect of being able to clear their debts.
If you’d like to discuss these options in more detail, then please speak to one of our friendly advisors.Free bankruptcy assessment