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Bankruptcy Help & Advice

What is Bankruptcy?

If you cannot afford to repay your debts, you could be classed as insolvent and may qualify for bankruptcy.

Bankruptcy is another debt solution allowing people to deal with their debt problems. By applying for bankruptcy it will allow the individual to be free from their debts after a set period of time.

Bankruptcy should always be seen as a last resort due to the serious consequences associated with bankruptcy so all other debt solutions should be exhausted before applying. Your assets including your home, business and possessions could be used to repay your creditors.

Bankruptcy criteria

As with all other debt solutions, qualifying for Bankruptcy will depend on your individual circumstances, this includes the amount of disposable income you have available after paying for essential bills. Therefore it’s essential you seek professional debt advice before proceeding with an application.

You could qualify for Bankruptcy if you:

Call us free on 0800 634 7053 for expert advice

Fees

Out initial advice is free, however if you decide to pursue Bankruptcy, fees will apply for the Bankruptcy support service which is provided by our partner company.

At DEBTPLAN Direct™ we’re committed to providing the highest standards of customer service at competitive rates. For information on our fees for our full range of services, please click here.

What are the benefits of bankruptcy?

What are the drawbacks of bankruptcy?

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I would like to thank them for all the work they've done as it has made a big difference to me, not worrying about phone calls letters and visits. Geoff