Many people fear receiving a letter from the county court in which it claims they owe someone money. If this happens, it is up to the county courts to decide whether or not you have to pay and if you do, how you should go about repaying it. The following will outline how a claims [...]
Posted in Bankruptcy | Tags: how to handle ccjs, what to do with a ccj | No Comments
Filing for bankruptcy is usually viewed as the quickest and easiest way to get rid of debt but while it may discharge most debts, it doesn’t let go of your entire debt burden and thereby make you debt free. Bankruptcy can certainly help you give a fresh financial start but are you aware of the [...]
Posted in Bankruptcy | Tags: how to prevent bankruptcy, tips to prevent bankruptcy | No Comments
In the United Kingdom, there are three different laws for bankruptcy. One bankruptcy system is for Northern Ireland, another is for Scotland, and the last is for England and Wales. Bankruptcy in Scotland is referred to as Sequestration, and the organization that is responsible for overseeing the process is called the Accountant in Bankruptcy. Bankruptcy [...]
Posted in Bankruptcy | Tags: bankruptcy checklist | No Comments
Sequestration is the act of a creditor or financial institution seizing personal property in Scotland in order to pay off debt owed by a person. Sequestration is derived from the Latin term sequestrare which means to surrender or set aside. In Scotland, sequestration is the term used for bankruptcy in most other countries. Process A [...]
Posted in Bankruptcy | Tags: how does sequestration work, what is sequestration | No Comments
Low Income Low Assets, in short known as LILA is a solution for people struggling with bankruptcy. If you are having a low income and only few assets to help you with the repayment, then LILA is able to come out with a solution for you. Let’s see, what this Low Income Low Assets can [...]
Posted in Bankruptcy | Tags: lila solution, low income low assets | No Comments
Although there are various costs associated with filing for bankruptcy, the biggest concern for many is whether or not they will lose their house. While losing your home depends entirely on the circumstances of the bankruptcy there are a number of things you must consider in order to best determine whether or not you will [...]
Posted in Bankruptcy | Tags: can i keep my house during bankruptcy | No Comments
When you file for bankruptcy, information on your bankruptcy stays on file for up to six years. On top of that, bankruptcy restrictions can apply to you for upwards of fifteen years. When credit lenders see these marks on your record, you will be marked down on your credit score. The reason this happens is [...]
Posted in Bankruptcy | Tags: bankruptcy affect credit score, bankruptcy my credit rating | No Comments
If you look at recent reports, then a remarkably alarming trend of the rising number of bankruptcy cases come to light. There has been a constant rise in the number of bankruptcy filings since the 1990s itself. In fact, a recent study shows that approximately 130,000 people are filing for bankruptcy every year in the [...]
Posted in Bankruptcy | Tags: bankruptcy myths, myths about bankruptcy | No Comments
Nowadays more and more people file for bankruptcy, as they consider it is a great solution to their financial problems and a liquidation of their debt. However, it is a very serious step and before declaring yourself bankrupt, you should research this topic. Bankruptcy in the United Kingdom has different properties when compared to bankruptcy [...]
Posted in Bankruptcy | Tags: lose house during bankruptcy, what happens to my house bankruptcy | No Comments
The question most people in the UK ask themselves when they go into a large amount of debt is if they should file for bankruptcy. Are there certain types of people that should file for bankruptcy? The biggest thing is that don’t file for bankruptcy unless it is your last resort. This is who the [...]
Posted in Bankruptcy | Tags: can i declare myself bankrupt, who can declare themselves bankrupt | No Comments
Bankruptcy Clinic Feed