Declare Bankruptcy In Chorley & Lancashire

Go Bankrupt in 3 simple steps

1. Complete our quick enquiry form

2. Speak to a Bankruptcy expert about your options

3. Bankruptcy Help and Information will be given

1. Complete our quick enquiry form

2. Speak to a Bankruptcy Expert about your options

3. You will be advised how to start your Bankruptcy Application

About Bankruptcy

Bankruptcy is a big step and is not suitable for everyone. It is strongly recommended you speak to a trained bankruptcy advisor first before proceeding.
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About the Fees

We have put together guides on the fee structures for the services we offer.

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Impartial Advice

You can get FREE impartial advice on your finances from the Government's Money Advisory Service.

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Please remember

If you choose to restructure your debt over a longer term it could affect your credit rating and cost you more.

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Introducing Bankruptcy In Chorley

What is Bankruptcy?

Bankruptcy is a solution to clear all your unsecured debts if you have little or no money available to repay your creditors. Once bankruptcy has been declared, any surplus assets you have are then shared equally amongst your creditors. Once your discharge has been received from your official receiver, your unsecured debts are usually written off subject to certain limitations.

Can I go Bankrupt?

Bankruptcy should be considered as a last resort to solving your debt problems. If you have little or no money and no way of raising money to repay your unsecured debts then bankruptcy may be the only option available to you. It is recommended you speak to a professional bankruptcy advisor to see what your debt options are before declaring yourself bankrupt.

Professional Advice

You must seek professional advice before you Go Bankrupt yourself. It may seem very tempting to think of being debt free especially if you have a high amount of debt, but there are some drawbacks to Bankruptcy to be aware of, and you can learn more about here

Your Options

If Bankruptcy is the correct solution for you, you will be provided information on how to go bankrupt and how to start your bankruptcy application. You will also be advised on alternative debt solutions should you qualify for one of them. Operating on a best advice policy, you will be presented with the facts about each option and it will be your choice on which solution to go for.

Limitations to Bankruptcy

Your Credit Rating

Bankruptcy can also have a severe effect on your credit rating. If a debt has been included into your bankruptcy then the creditor will mark the account in default. The default could remain on your credit file for up to 6 years from the date the default was issued.

Your Home

If you are a home owner with equity in your property your share of this will normally have to be released for the benefit of your creditors. If there is little or no equity in your property then it is likely that your property will be safe from bankruptcy.

Your Profession

You will be unable to act as a company director or be involved in the management of a ltd company whilst your are bankrupt. There are also some professions that are affected by bankruptcy such as accountants, solicitors and people involved in financial services.

Reduced Borrowing

You will be unable to borrow more than £500 without informing the lender you are bankrupt

Our Policy

We want you to put your trust in us. At Bankruptcy Clinic, we’re not just concerned about doing things right. We also want to do the right thing. That’s why when you become a client, our promise to you is:

You will be provided with the highest standards of client service

Quality is at the forefront of everything we do for you

You will be treated with respect and dignity at all times

You will be offered information that is clear, straightforward and simple to understand

You will find us open, approachable and friendly

Our fees will be transparent and reasonable with no hidden surprises

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