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Bankruptcy Advice
If you are struggling under a pile of debt, can't make payments on your credit cards or perhaps you're behind with your repayments on a loan or in arrears on your mortgage. You may be considering bankruptcy because you've heard that with the new rules, its quicker, easier and may help you get out from under the stress and strain of such a financial burden. Before you make any decisions, it's important to take qualified advice from experienced UK credit and debt counselors who work within the financial services industry. Nothing beats professional advice for giving you the advantages and disadvantages of a course of action before you take it!Often there are some much better alternatives to bankruptcy that will help you to reach a better financial position and leave you with the shirt on your back. There are some serious disadvantages to bankruptcy in UK, qualified advice would show you that these are things such as:
* Loss of control - once the bankruptcy is filed, the entire situation is completely out of your hands. The Official Receiver will become involved a Magistrate will decide the outcome.
* Your assets will be sold - your house, or flat, car, even your television can be sold to provide creditors (those who you owe the money to) with some portion of return on their loss.
*You will be very lucky to EVER obtain credit again. It will be near impossible to purchase a house by taking out a mortgage, you credit rating will be ruined forever and your chances of getting a credit card debt, loan or even a current account will be greatly limited.
* There is an obvious humiliation factor involved, it is advertised in newspapers and if you only rent a flat, your landlord will be informed.
*Certain employers cannot have staff who are bankrupt, there are also some harsh restrictions on owning business or becoming a company director.
This is why it is important to ensure that you make the right move with regards to your future financial ‘life'. Getting qualified, professional help is one such way of ensuring a financial future. If you would like to talk to someone who can talk you through the steps of bankruptcy or offer you some alternatives, why not call our freephone number on 0808 22 22 123.
Its as easy as 123, call 0808 22 22 123 or fill in our online enquiry form.