For very large debts - Discover Bankruptcy If you have little or no disposable income to pay your creditors then Bankruptcy is likely to be your only viable option. However, as part of the Fresh Finance Bankruptcy service, we check all of the other repayment options available to you before you commit to declaring yourself Bankrupt. Below you will find out more how you can clear your debts.

 

Step 1

The Assesment

We'll conduct an assessment with you over the phone once you have filled out our Take the Bankruptcy Test application.

 

Step 2

The Info Pack

If we still feel that it is the right choice for you to make we will send out our Bankruptcy Information Pack for you to complete giving us full information of who your debts are with and details of exactly what your income and expenditure details are, this can then be sent back to our Bankruptcy department so that they can write to your credit companies informing them of your wishes to go Bankrupt..

 

Step 3

The Application

We'll fill out your Bankruptcy application form with you and send it to you to sign off, this can then form part of your application to your local County court, an application will then be made to the County court for your Bankruptcy to be dealt with at the court, you will then be declared Bankrupt.

 

Step 4

The Appointment

After you are made Bankrupt by your local County Court you will have to see your local Official Receiver. They will decide whether you have anything to pay in your Bankruptcy Order. They'll be looking to see if you have any assets such as your property or any other assets that can be sold to raise money towards paying your creditors.

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Is Bankruptcy the right choice?

If you are considering Bankruptcy then it is highly advisable first seek professional financial advice before entering Bankruptcy. Our Bankruptcy advisors can see whether you qualify for bankruptcy and ultimately leave you free from debt within 12 months or less.

 

If you are unsure whether Bankruptcy is the right solution for yourself, our advisors can help assist with alternative soluions such as Debt Management, IVAs or Scottish Trust Deeds. We'll run through every available option with yourselves so that you can make an informed decision which route you want to take. You can find out more about our Alternative Solutions here.

 

What is the charge for Bankruptcy Help

The Advice involved in ascertaining whether Bankruptcy is the right choice for your particular debt problem is totally free, however if after speaking to one of our advisers you feel that Bankruptcy is the right choice for your particular circumstances then we'll advise you of the costs that are involved with going Bankrupt. Depending on your financial circumstances the costs levied by the County courts are different.

 

Would you like to know more?

Simply fill in our contact form and we will contact you to chat about your situation.

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