Bankrupt | Avoid Bankruptcy | Declared Bankrupt | Bankruptcy Advice

A bit about Bankruptcy | Filing for bankruptcy

Bankruptcy is the term given when you are unable to pay your debts.
It is a decision made by you or your creditor/s, influenced by the total amount of debt you have and your inability to meet the payments.

Being chased by creditors when you have no money can be extremely stressful. The decision to file for bankruptcy should not be made solely to stop demanding creditors. It is something that needs a lot of thought and also, some debts cannot be discharged in bankruptcy. You would be best to discuss your situation with a debt advisor, before making any decisions.

Depending on your circumstances, bankruptcy may or may not be right for you. If, after the bankruptcy you will be no better off than you were before, why do it?

The decision as to whether and when to file a bankruptcy petition should be based upon the facts of your individual case.

Avoiding bankruptcy

Sometimes when people find themselves facing serious debt problems bankruptcy may seem like the only way out. This is not always the case.

People with assets and / or professional jobs (or any other special circumstances) may wish to avoid going bankrupt. There are other options available but you should explore all these options carefully before making any decisions.

You may be able to propose an IVA or Debt Management Plan with McCambridge Duffy.

To find out if we can help you to avoid bankruptcy or just get some free advice call 0800 043 3328 or fill out the form below.

Note on Fees for IVAs? Just to clarify...

The fees for an IVA are all set by the creditors (no matter which provider you use), so if your IVA application is successful, the only thing to worry about is whether you have chosen the right Insolvency Practitioner or not.

All fees are taken out of your affordable monthly payment so you will never be asked for additional fees or receive a bill from us.

We are the longest established IVA provider in the UK and have thousands of happy clients. We also have one of the highest success rates in the industry.

We have 6 full time highly regulated Insolvency Practitioners giving us a wealth of experience and knowledge (most other providers have just 1 or 2), so we have probably seen all possible circumstances. If we cannot provide you with an IVA no one can

Bankruptcy Frequently Asked Questions

Click here to read some more commonn questions asked about Bankruptcy.

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