When you have mounting debts with no prospect of paying them off, declaring bankruptcy could be an efficient way to remedy the problem and give you the chance to have a fresh start.

Bankruptcy will clear your personal unsecured debts, but in doing so it will remain on your Credit Report for 6 years, which can have an impact on your future borrowing during that timeframe. Another method of insolvency is an IVA, which often can be ideal for those who have equity to protect, or a job which is excluded from personal bankruptcy.

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

For those living within Liverpool 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.