The implications of bankruptcy will be fully explained to you, as bankruptcy is often seen as the last resort. Rest assured we will explore every avenue available to you first. We would only recommend bankruptcy if it is in your best interests as the effects of bankruptcy are more significant than an IVA.

Disadvantages of bankruptcy
• If you are declared bankrupt your name and address will be published in the local newspaper and the London Gazette.

• The record of your bankruptcy remains on your credit file for six years meaning it will be difficult to obtain further credit during this time.

• You will have to give up your share of any equity you have in property. This may result in the sale of a property

• You may have to trade in a car worth more than £1000

• You are unable to act as a company director while you are bankrupt

• Re-mortgaging

Quite often the best course of action is to restructure your finances by releasing equity in an existing property, and giving yourself peace of mind with a lesser monthly payment than paying all your existing commitments.

We have connections with recognised mortgage professionals who are able to source mortgages for customers who currently have arrears, ccj’s, IVA, or recently self employed with no accounts, whatever your circumstances we are confident we can help.