Facing Bankruptcy

There is a 100% FREE alternative to bankruptcy

An alternative to facing bankruptcy is either debt consolidation or the 100% FREE government back solution - an IVA (Individual Voluntary Arrangement). An IVA provides you with a 100% free solution which is NOT BANKRUPTCY. It is a legally binding agreement beween yourself and your creditors whom you owe money to.

To qualify for an IVA, you need to have debts over £15,000, have debts with 3 different companies and you must be in receipt of a regular income. If you match this criteria, then an IVA can save you money and the embarrasement of facing bankruptcy, by providing an alternative way to pay off your debts and also writing off what you cannot afford

You will not lose your house, your car or any of your possessions.

No one will know if you decide to take out an IVA as it is all done in private.

The payment amounts will be what you can realistically afford.

All interest is automatically frozen by your creditors.

Your creditors are forbidden from contacting you direct, as it is all dealt with an official Insolvency Practitioner.

Upto 75% of your debt may be written off.

 

If you are facing bankruptcy we can help.

If you are worried as you may be facing bankruptcy, then you are not alone. With the current economic climate in 2009, more and more people are facing bankruptcy from either losing their job or falling behind with their repayments on loans and credit cards.

Bankruptcy should only be considered as a last measure as there are lots of negative points to take into consideration, if you decide to declare bankruptcy including :

It will cost you money to declare yourself bankrupt.

Whilst you are bankrupt you cannot apply for credit or anything like secured loans or credit cards

Your house may be sold if you own it or have a mortgage attached to it.

Some of your possessions will have to be sold such as your car and luxury items you may own.

You cannot keep your bankruptcy private. A list of all bankruptcies are posted on certain websites, and sometimes also in your local newspapers.

Court fines and student debts are not written off if you declare bankruptcy.

You cannot be a director of a limited company whist bankrupt.

There is a large public stigma attached to bankruptcy.

You lose control of ALL of your assets.

You could be publically examined in court.