If you have serious debt problems and you don’t act now you could very soon be the subject of a Bankruptcy order from one of your creditors!
The more time you spend without taking action will reduce your options, being declared Bankrupt will be much worse and the effects on you and your family’s quality of life will be far more negative. So best to act now!
If you take early action there are several options available to you; IVA, Debt Management Plans, Consolidation Loans, Adverse Mortgage products and even Bankruptcy. They are all clearly explained on this Bankruptcy Options website. Simply follow the links from the home page.
All of the above options are solutions. If you act before you are in a position where it is impossible to payback any of the money you owe and you have acted soon enough to prevent a creditor making you the subject of a Bankruptcy Order, you are then on the way to solving your complete debt problems without the severe impact on your credit rating a Bankruptcy order will bring.
Did you know that even if you owe as little as £750 a creditor can legally issue Bankruptcy proceedings. You don’t even get a say in the matter and it may that you will be unaware these proceedings are imminent until it is too late.
Although Bankruptcy is an option and has it’s pitfalls, it is not quite as bad as it was in Roman times…
In Ancient Greece and Republican Rome, debtors suffered death, slavery, mutilation, imprisonment or exile. Roman Republic Law allowed multiple creditors to exhibit a debtor in the forum for three days then divide the debtor up into pieces to satisfy the debt.
Creditors still have the right to seize all of your assets, everything right to the kitchen sink!
Your name and address will be published in the local newspapers. This would have a massive detrimental effect on business people or individuals in public standing.
On a bright note you are only considered to be Bankrupt for 12 months. After which your debts are wiped clear but your future credit rating will be impaired for a considerably longer period.
You can however be considered bankrupt for up to 15 years if you haven’t been anything but totally upfront with your finances.
So best to act early!
Contact bankruptcy options today and we will help you find the right solution for you!
Have you been...
Let us help you today!