The best way to see if you qualify for Bankruptcy, or any of our other solutions, is to speak to one of our friendly financial experts. We strive to help you no matter what your situation.
To find out more contact us now or fill out the form above.
If your debts are serious enough that you are considering the prospect of going bankrupt, you need to be aware that there are charges for declaring yourself bankrupt. These being a £150 court fee and a £450 to help meet the costs of the Official Receiver. This could mean total costs of £600 which you are legally bound to meet yourself.
If you are on means-tested benefits, then you will be exempt only from the court costs of £150. This is another reason why it's so important that you get debt help and consider all other possible debt solutions such as an IVA (Individual Voluntary Arrangement) first.
Note: These fees are correct at time of publishing.
An individual can be made bankrupt either in one of three ways:
A bankruptcy order can still be made even if you refuse to acknowledge the proceedings or refuse to agree to them. You should therefore co-operate fully once the bankruptcy proceedings have begun. If you dispute the creditor's claim, you should try and reach a settlement before the bankruptcy petition is due to be heard. Trying to do so after the bankruptcy order is made is both difficult and expensive.
With Bankruptcy comes some serious implications. Some of these are detailed below.
People think Bankruptcy is the only choice when it comes to dealing with their debts, but there are many other solutions in todays current market.
Bankruptcy has changed a lot over the years. Currently, the time for being discharged from your Bankruptcy is after a maximum period of 12 months. After this time, you will no longer be bankrupt. The length of time of a Bankruptcy can be altered in some circumstances.
When you have finished your Bankruptcy, it is important to remember that the effects of Bankruptcy extend far further than just one year. i.e. your credit rating will be affected for many years.
People may find out. Bankruptcy Orders are advertised in the London Gazette and also in your local newspaper. Your details will be placed on a Bankruptcy Register which is maintained by the Department of Trade & Industry and The Insolvency Service. The Register is a public document and can be viewed by the public on the internet.
We are happy to provide you with debt advice only. We only charge a fee if you opt for one of our debt solutions. Fees will depend on which debt solution we provide and what your personal circumstances are. All fees will be discussed prior to commencement of any service or debt repayment plan.
Please note: From time to time we may refer you to other services providers or charities such as the CAB.
You can get free debt advice from the Money Advice Service – an organisation set up by the Government to offer free and impartial advice to those in debt. Click here for more information.
Star rating : 5/5
Before things got out of hand I decided after reading other reviews to contact National Debt Relief for advice. An extremely helpful team discussed my options and explained how things would work. I was starting to get numerous calls and letters from creditors looking for full repayments on my loans but given the nature of the pay cut I received this was no longer possible.
After I contacted National Debt Relief and agreed a payment plan to repay my loans in a restructured way my life changed. No more calls, texts or letters from creditors demanding money. And that was all down to the negotiation skills of the team of fantastic staff at NDR. I'm forever grateful .. So if ur in the same situation, I would advise that you pick up the phone and take the first steps.
Written on 18/04/2013,
If you have any questions about your problem debts you can have an online chat with one of our expert debt advisors.
You can chat to us via your computer or mobile device 6 days a week from 8am - 8pm, Mon - Sat