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How long will bankruptcy last? |
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The statutory period for a bankruptcy is 12 months, however, in many cases individuals receive their discharge from as early as six months from the date that the Bankruptcy Order was made.
By being organised and co operative you can help the Official Receiver to do their job. They do not really want your file hanging around for any longer than is necessary - so the easier you make it for them to do their job, the quicker you are likely to be out of bankruptcy.
Co-operation and a helpful attitude is the key!
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Is Bankruptcy Right For You? |
It could be that bankruptcy is the most suitable debt solution for you.
You may hear that bankruptcy should be considered a last resort, and that you should try an IVA (Individual Voluntary Arrangement), IPP (Informal Payment Plan) or DMP (Debt Management Plan) first, but this isn't always suitable. What's right for you depends entirely on your circumstances as these are all solutions to the same problem, but tackled differently.
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Bankruptcy Assistance Service |
You may find that you would benefit from professional help in completing your Statement of Affairs and Bankruptcy Petition.
From the time that you decide to apply for a bankruptcy order, to the day that you are declared bankrupt, you may seek assistance in order to keep your creditors and bailiffs at bay. In addition, performing your own research into bankruptcy often results in receiving conflicting information, depending on the source(s).
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How to File for Bankruptcy |
After you've sought financial advice, you can either file the required paperwork yourself, or use the help of a Solicitor, Insolvency Practitioner or Bankruptcy assistance service to take care of everything.
Professional guidance can ensure that all Court paperwork is completed, creditors are kept at bay, legal action is averted...
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You will be instantly free from debt and no longer held responsible for any previous debts.
It will be a new start for the whole family so that you build a new life without worryand stress a normal life which you can enjoy. None of your creditors can come knocking on your door execept those who are secured after bankruptcy.
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