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

Bankruptcy will clear all of your unsecured debts, but in doing so it's going to remain on your Credit Report for 6 years, which will have an impact on your future borrowing during that timeframe. Another form of insolvency is an IVA, which often can be ideal in case you have equity to protect, or a profession which is excluded from personal bankruptcy.

If personal bankruptcy certainly is the right choice for you, then the appropriate paperwork will eventually be submitted to your local County Court.

For those living within Truro 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.