See if you could qualify to write off debt

See if bankruptcy is the solution for you

Bankruptcy may be the option for you it can help;

  • Remove all existing debts
  • No further contact from your creditors
  • Small fee to wipe debts from file
  • Gives you a new start

Check if you qualify

The above statement is in relation to a bankruptcy solution and subject to specific criteria

How much debt do you have?

Roughly how much unsecured debts do you currently have?

£5,000 - £10,000
£10,000 - £15,000
£15,000 - £20,000
£20,000 - £30,000
£30,000+

Whats your main type of debt?

Please just select your main debt type

Store cards
Credit cards
Loans
Car finance
Phone bills
Personal loans
Catalogues
Payday loans
Other

Are you behind on payments?

Yes
No

How many debts do you have?

The number of different creditors do you have

1-2
2-5
5+

What country do you live in?

Where about in the UK do you live

England
Scotland
Wales
Northern Ireland

Congratulations, get your results!

We have a solution for you. Please enter your details and get your results.

Stop interest and demands. See if you qualify

Millions of people struggle with debt. You’re not alone, talk to us.

Reduce up to 80% of all debts*

Lower your repayments

No upfront charges to pay

Stop creditors harassing

Pay an affordable amount each month

Freeze interest rates and charges

The above statement is in relation to an IVA solution and subject to specific criteria

Check if you qualify

Bankruptcy

If you have a debt problem, one of your options for sorting it out might be bankruptcy. You can apply for bankruptcy if you can’t pay back your debts.

As well as applying for bankruptcy yourself, someone else you owe money to (a creditor) can apply to make you bankrupt, even if you don’t want them to. For a creditor to make you bankrupt, you must owe at least £5,000.

Remember, bankruptcy might not be your only option and it might not be the best one for you. One of your other options might be a debt relief order. You could be able to apply for a debt relief order if you are not a homeowner have debts, income and assets below a certain amount. This is a cheaper alternative to bankruptcy.

Advantages of going bankrupt

When the bankruptcy order is over you can make a fresh start - in many cases this can be after a year. Other advantages of going bankrupt include:

  • the pressure is taken off you because you don’t have to deal with your creditors
  • you're allowed to keep certain things, like household goods and a reasonable amount to live on
  • creditors have to stop most types of court action to get their money back following a bankruptcy order
  • the money you owe can usually be written off

Disadvantages of going bankrupt

To apply to go bankrupt you’ll need to pay a £680 fee. The fee can be paid in instalments however the bankruptcy application cannot be submitted until the fees have been paid in full. Other disadvantages of going bankrupt include:

  • if your income is high enough, you’ll be asked to make payments towards your debts for 3 years
  • it will be more difficult to take out credit while you're bankrupt and your credit rating will be affected for 6 years
  • if you own your home, it might have to be sold (but you may be able to apply to your local authority for re-housing)
  • some of your possessions might have to be sold, for example, your car and any luxury items you own
  • if you are, or are about to be, the right age to get your pension savings, these might be taken
  • some professions don’t let people who have been made bankrupt carry on working
  • if you own a business it might be closed down and the assets sold off
  • going bankrupt can affect your immigration status
  • your bankruptcy will be published publicly (although if you’re worried you or your family maybe the victims of violence, you can ask that your details aren’t given out)

What happens at the end of bankruptcy

Your bankruptcy will normally end after a year. The Official Receiver will tell you when it is over. Most debts that haven’t been paid will be written off although some debts like court fines and student loans can never be written off.

Even when you’re no longer bankrupt, you could have a bankruptcy restriction order made against you. This can last up to 15 years and will restrict your financial affairs. This order could be made if, for example, you do not co-operate with the Official Receiver, or you take on debts knowing that you won’t be able to pay them back.

Finding the right solution

Our new enquiries team we will be able to help you visualise your debt in a whole new light. The team are empathetic and supportive of all whom need support – and will not just help you to understand and gain confidence on your ability to clear debt, but will help you identify which solution best suits your personal circumstances.

We are experts in insolvency and help thousands of people every year write off the debt they can’t afford. Our talented team are on call for you.

Get help to start reducing your debt repayments

Check if you qualify