Posts Categorized: Bankruptcy

How To Avoid Bankruptcy with Credit Card Debt

Normally people worry a lot about reducing their debt and especially credit card debt. If not managed right credit card debt can often lead to serious debt problems or even bankruptcy.With so many people paying only the minimum payment required on their credit cards they will never pay off their credit card balance and are… Read more »

Old Debts that are Statute Barred

There is a lot of legislation that governs the financial industry at the present moment, most of which is designed to protect consumers from financial institutions and creditors that become a little exuberant when trying to collect. If these laws were not in place then the stress that you feel now would undoubtedly be far… Read more »

All About Debt Relief Orders

It is incredibly easy to get lost in a world of debt at the moment but not through spending more than you can afford (although that is of course how you get into it in the first place). Instead, getting lost is easy as a direct result of the amount of jargon that is bandied… Read more »

Celebrities Who Have Gone Bankrupt In The UK

So you may be thinking of going bankrupt and feel like you are the only one with real money problems. The truth is there are thousands of people who are struggling financially in the UK, its just that most people like to keep their financial problems to themselves. The fact is there are thousands of… Read more »

Can I Get A Mortgage After Bankruptcy?

You may be very interested to know that your ability to refinance your mortgage after you have filed for and been discharged in bankruptcy is not impossible. Bankruptcy is not the stigma is was even 20 years ago. In fact, many mortgage lenders will certainly consider refinancing your mortgage after a bankruptcy because the risks… Read more »

How Bankruptcy Affects Your Credit Rating

Being in debt can be an incredibly scary prospect and one that all too many people are becoming used to these days. Debt in the UK is higher than it has ever been before and the effects are being exacerbated by the fact that lenders are increasing their interest rates, unemployment rates are rising and… Read more »

How To Declare Bankruptcy

Bankruptcy has always been and is still to some extent considered to be a dirty word in the world of finance. Years ago, declaring bankruptcy came complete with a stigma and level of shame that was difficult to shake off. It is still considered in the same terms by some people today but more and… Read more »

A Brief History of Bankruptcy

History of bankruptcy

The Magna Carta, signed by King John in 1215, decreed a man’s body could not be taken for the failure to pay a debt. After that time, several laws in conflict with the Magna Carta were passed and imprisonment became common punishment for failure to pay debts. These laws made it easy for a creditor… Read more »

What Is Bankruptcy

Bankruptcy is a term used when an individual or organisation cannot afford to pay their creditors legally. In the majority of cases, bankruptcy is initiated by the individual or organisation even though a state of bankruptcy can be requested by their creditors in an attempt to recoup some of the money owed. The two main… Read more »