When you have mounting debts with no prospect of paying them off, applying for bankruptcy could be an effective way to remedy the situation and provide you with a chance to have a fresh start.

Personal bankruptcy will clear all your unsecured debts, but in doing so it will remain on your Credit History for 6 years, which will hinder your future borrowing during that timeframe. Another method of insolvency is an IVA, which could be best suited if you have equity to protect, or an occupation which is excluded from personal bankruptcy.

If personal bankruptcy is the answer you're looking for, then the required documentation will eventually be submitted to your local County Court.

For those living within Lancaster 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.