What’s Involved in Filing for Bankruptcy?
When your bank account is looking low and you are simply living from one pay cheque to the next, it may be time to think about getting help with your finances. For many people it can seem scary and daunting to accept you have a problem, but here at Assured Money Solutions we want you to rest easy knowing we will be on hand to support you throughout your journey. We specialise in helping people regain control of their finances by advising and guiding on the best solutions such as bankruptcy, IVA’s and debt management.
If you have constant phone calls or letters through the post from a long list of creditors and it’s getting too much, bankruptcy may be a consideration. By declaring yourself bankrupt you will automatically make it illegal for any of your creditors to harass you in this way.
So What Do I Have To Do?
Your first step is to speak to one of our professional team who can advise you on whether bankruptcy is your best solution. If we decide together that it is, we will then move on with the process of filling out the relevant forms.
Often people think they can fill the forms out themselves however it is not that straightforward. Filled out incorrectly could mean you lose assets unnecessarily, so we advise all of our customers to let us help with this process.
What’s Next?
The bankruptcy forms will then be filed with the county court who will, through a course of meetings, find out relevant details about the debt and how it happened whilst also asking you about any assets you may have.
Bankruptcy generally lasts between 12-36 months and is a public process; details will be published in the local newspapers as well as the Insolvency Register. Although public, you can rest assured that you will have the support and guidance from us throughout the whole process.
If you are struggling with your finances and think you need some advice from a professional debt management company, contact us here at Assured Money Solutions to see how we can help with various solutions such as bankruptcy. For more information and to explore the other options that are available to you, feel free to search our website or call one of our team on 0800 612 2472 today.
Tags: Bankruptcy
