Bankruptcy Records

For those who are unable to pay off their debts and are faced with serious financial difficulties, bankruptcy is an option that many are increasingly considering. It is important to bear in mind that, although it frees you of your debts, bankruptcy does have long term consequences; you are put on the bankruptcy records for at least five years, which will have a serious effect on your credit rating.

If you are thinking about bankruptcy, the best idea is to speak to a debt advisor first who will:

Help you find the best way of dealing with your debts
Look at consolidating your debts into one payment or organise restructured payment with your creditors
Provide advice to help you decide the best course of action

If you want to know more about bankruptcy or you would like to discuss other options that may be available to you complete our Debt Management Advice form and we will put you in touch with a financial specialist.