{"id":14650,"date":"2023-06-06T09:37:23","date_gmt":"2023-06-06T09:37:23","guid":{"rendered":"https:\/\/bankruptcyservices.co.uk\/?page_id=14650"},"modified":"2024-03-26T10:03:04","modified_gmt":"2024-03-26T10:03:04","slug":"bankruptcy-pros-and-cons","status":"publish","type":"page","link":"https:\/\/bankruptcyservices.co.uk\/index.php\/bankruptcy-pros-and-cons\/","title":{"rendered":"Bankruptcy Pros and Cons"},"content":{"rendered":"<div id=\"cmsmasters_row_40a4n7hk4p\" class=\"cmsmasters_row cmsmasters_color_scheme_default cmsmasters_row_top_default cmsmasters_row_bot_default cmsmasters_row_boxed\">\n<div class=\"cmsmasters_row_outer_parent\">\n<div class=\"cmsmasters_row_outer\">\n<div class=\"cmsmasters_row_inner\">\n<div class=\"cmsmasters_row_margin\">\n<div id=\"cmsmasters_column_80efeaz8k\" class=\"cmsmasters_column one_half\">\n<div class=\"cmsmasters_column_inner\"><\/div><\/div>\n<div id=\"cmsmasters_column_fmjroo7lsh\" class=\"cmsmasters_column one_half\">\n<div class=\"cmsmasters_column_inner\"><div id=\"cmsmasters_heading_1ftwfyrzny\" class=\"cmsmasters_heading_wrap cmsmasters_heading_align_left\">\n\t<h4 class=\"cmsmasters_heading\"><\/h4>\n<\/div><div id=\"cmsmasters_heading_c4ajsk5rzb\" class=\"cmsmasters_heading_wrap cmsmasters_heading_align_center\">\n\t<h2 class=\"cmsmasters_heading\"> Bankruptcy Pros and Cons<\/h2>\n<\/div><div class=\"cmsmasters_text\">\n<p style=\"text-align: center;\"><span style=\"color: #6a6a6b; font-size: 18px; line-height: 28px; font-weight: 300;\">Bankruptcy is an extremely effective debt solution for some, and not for others. It depends entirely on your circumstances and what is right for you.<br \/>\n<\/span><\/p>\n<\/div>\n<div id=\"cmsmasters_divider_wfw89b09d\" class=\"cl\"><\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"cmsmasters_row_9jv4nvpj58\" class=\"cmsmasters_row cmsmasters_color_scheme_default cmsmasters_row_top_default cmsmasters_row_bot_default cmsmasters_row_fullwidth\">\n<div class=\"cmsmasters_row_outer_parent\">\n<div class=\"cmsmasters_row_outer\">\n<div class=\"cmsmasters_row_inner cmsmasters_row_fullwidth cmsmasters_row_no_margin\">\n<div class=\"cmsmasters_row_margin cmsmasters_row_columns_behavior\">\n<div id=\"cmsmasters_column_6rf377l5xg\" class=\"cmsmasters_column one_half\">\n<div class=\"cmsmasters_column_inner\"><div id=\"cmsmasters_heading_t0y0gkvagn\" class=\"cmsmasters_heading_wrap cmsmasters_heading_align_left\">\n\t<h4 class=\"cmsmasters_heading\"><\/h4>\n<\/div><div id=\"cmsmasters_heading_t8mmezq3uh\" class=\"cmsmasters_heading_wrap cmsmasters_heading_align_left\">\n\t<h2 class=\"cmsmasters_heading\">Advantages<\/h2>\n<\/div><div id=\"cmsmasters_fb_v1v6jdho\" class=\"cmsmasters_featured_block\">\n<div class=\"featured_block_inner\">\n<div class=\"featured_block_text\">\n<ul>\n<li>All of your pre-existing debt is wiped off.<\/li>\n<li>Creditors can no longer hassle you.<\/li>\n<li>First-time bankrupts are usually discharged within 12 months (sometimes sooner).<\/li>\n<li>If you rent or live with parents you don&#8217;t risk losing your home.<\/li>\n<li>You can keep tools of your trade.<\/li>\n<li>You can keep a car worth \u00a32500 or less.<\/li>\n<li>You have the chance to rebuild your credit rating once discharged.<\/li>\n<li>You can get your finances back on track.<\/li>\n<\/ul>\n\n<\/div>\n<\/div>\n<\/div>\n<div id=\"cmsmasters_divider_2eav0k0mgo\" class=\"cl\"><\/div>\n<\/div><\/div>\n<div id=\"cmsmasters_column_pjlfp7ikba\" class=\"cmsmasters_column one_half\">\n<div class=\"cmsmasters_column_inner\"><\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"cmsmasters_row_do3cgfaxff\" class=\"cmsmasters_row cmsmasters_color_scheme_default cmsmasters_row_top_default cmsmasters_row_bot_default cmsmasters_row_boxed\">\n<div class=\"cmsmasters_row_outer_parent\">\n<div class=\"cmsmasters_row_outer\">\n<div class=\"cmsmasters_row_inner\">\n<div class=\"cmsmasters_row_margin\">\n<div id=\"cmsmasters_column_3tjuohvjs\" class=\"cmsmasters_column one_half\">\n<div class=\"cmsmasters_column_inner\"><\/div><\/div>\n<div id=\"cmsmasters_column_vsw7srscim\" class=\"cmsmasters_column one_half\">\n<div class=\"cmsmasters_column_inner\"><div id=\"cmsmasters_heading_7ylb9eosgg\" class=\"cmsmasters_heading_wrap cmsmasters_heading_align_left\">\n\t<h4 class=\"cmsmasters_heading\"><\/h4>\n<\/div><div id=\"cmsmasters_heading_2re5bzmt6q\" class=\"cmsmasters_heading_wrap cmsmasters_heading_align_left\">\n\t<h2 class=\"cmsmasters_heading\">Disadvantages<\/h2>\n<\/div><div class=\"cmsmasters_text\">\n<ul>\n<li class=\"redtext\">You lose control of your assets (house, savings, expensive car (over \u00a32500)<\/li>\n<li class=\"redtext\">You cannot obtain credit for over \u00a3500 without the declaring that you are bankrupt<\/li>\n<li class=\"redtext\">You cannot take any part in the promotion, formation or management of a limited company (LTD) without the permission of the court<\/li>\n<li><span class=\"redtext\">You cannot trade in any business under any other name unless you inform all persons concerned of the bankruptcy<\/span><\/li>\n<\/ul>\n<\/div>\n<div id=\"cmsmasters_divider_c7grul1jcr\" class=\"cl\"><\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"cmsmasters_row_obegdcatsh\" class=\"cmsmasters_row cmsmasters_color_scheme_default cmsmasters_row_top_default cmsmasters_row_bot_default cmsmasters_row_fullwidth\">\n<div class=\"cmsmasters_row_outer_parent\">\n<div class=\"cmsmasters_row_outer\">\n<div class=\"cmsmasters_row_inner cmsmasters_row_fullwidth cmsmasters_row_no_margin\">\n<div class=\"cmsmasters_row_margin cmsmasters_row_columns_behavior\">\n<div id=\"cmsmasters_column_k5i03nq1qn\" class=\"cmsmasters_column one_half\">\n<div class=\"cmsmasters_column_inner\"><div id=\"cmsmasters_heading_9xu0psumc\" class=\"cmsmasters_heading_wrap cmsmasters_heading_align_left\">\n\t<h4 class=\"cmsmasters_heading\"><\/h4>\n<\/div><div id=\"cmsmasters_heading_mn12takqtq\" class=\"cmsmasters_heading_wrap cmsmasters_heading_align_left\">\n\t<h2 class=\"cmsmasters_heading\">Occupations affected<\/h2>\n<\/div><div id=\"cmsmasters_fb_wusyyycbns\" class=\"cmsmasters_featured_block\">\n<div class=\"featured_block_inner\">\n<div class=\"featured_block_text\">\n<ul>\n<li style=\"text-align: left;\">You cannot act as a <strong>Company Director<\/strong>.<\/li>\n<li style=\"text-align: left;\">You may not practice as a\u00a0<strong>Charted Accountant \/ Lawyer<\/strong>.<\/li>\n<li style=\"text-align: left;\">You may not act as a<strong> Justice of the Peace (JP)<\/strong>.<\/li>\n<li style=\"text-align: left;\">You may not become an <strong>Member of Parliament<\/strong>.<\/li>\n<li style=\"text-align: left;\">You may not become a <strong>Member of the Local Authority<\/strong>.<\/li>\n<\/ul>\n\n<\/div>\n<\/div>\n<\/div>\n<div id=\"cmsmasters_divider_2ebsi2ugu\" class=\"cl\"><\/div>\n<p><\/p>\n<\/div><\/div>\n<div id=\"cmsmasters_column_86r2pq1kxu\" class=\"cmsmasters_column one_half\">\n<div class=\"cmsmasters_column_inner\"><\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-14650","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/bankruptcyservices.co.uk\/index.php\/wp-json\/wp\/v2\/pages\/14650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bankruptcyservices.co.uk\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/bankruptcyservices.co.uk\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/bankruptcyservices.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bankruptcyservices.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=14650"}],"version-history":[{"count":35,"href":"https:\/\/bankruptcyservices.co.uk\/index.php\/wp-json\/wp\/v2\/pages\/14650\/revisions"}],"predecessor-version":[{"id":15429,"href":"https:\/\/bankruptcyservices.co.uk\/index.php\/wp-json\/wp\/v2\/pages\/14650\/revisions\/15429"}],"wp:attachment":[{"href":"https:\/\/bankruptcyservices.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=14650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}