When you have mounting debts with no prospect of paying them off, filing for bankruptcy is often an effective way to treat the problem and provide you with the chance to have a fresh start.

Personal bankruptcy will clear all of your current unsecured debts, but in doing so it will stay on your Credit Report for 6 years, which can cause problems for your future borrowing during that timeframe. Another form of insolvency is an IVA, which could be ideal in case you have equity to protect, or a profession that is excluded from personal bankruptcy.

If personal bankruptcy is definitely the answer you're looking for, then the appropriate paperwork will eventually be filed at your local County Court.

For those living within Reading we have included the court details below. You only need to contact the court if you already have everything prepared, including your Statement of Affairs and Debtor's Petition, and you are ready to finalise the Bankruptcy Order.

To arrange a consultation you can complete this online form, and an experienced Advisor will be in touch to assess your situation and advise you accordingly.