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

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 have an impact on your future borrowing during that timeframe. An alternative method of insolvency is an IVA, which may be ideal in case you have equity to protect, or a job which is excluded from bankruptcy.

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

For those living within Scarborough 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.