Bankrupt.co.uk - The Bankruptcy Advice And Help Website

Plain English impartial advice for anyone with debt problems who wants to find out more about bankruptcy and the alternatives including entering into an Individual Voluntary Arrangement (IVA).

	How to make yourself bankrupt If you have looked at all of the options and are considering filing for bankruptcy in England and Wales, here's our step by step guide on how to make yourself bankrupt. more

Bankrupt.co.uk has the answers to the ten most frequently asked questions concerning bankruptcy
	Media coverage of changes in the bankruptcy laws have painted a picture of bankruptcy as an easy way out of your financial obligations. But is bankruptcy really the easy way out that some would have you believe? Will you really be debt free after just one year? And what will happen to your house?

The alternatives to bankruptcy Being made bankrupt is still very much the last resort for those who find themselves in serious debt with little or no hope of being able to repay the debt. But even if your debt is spiraling out of control, there are alternatives to bankruptcy. more

Answering your door to find a bailiff stood on your doorstep can be a distressing and frightening experience, particularly since few people know what powers bailiffs have at their disposal and what rights you have when dealing with them.

One question that will no doubt be on your mind. Do bailiffs have the right to enter your home? and if so what are bailiffs allowed to seize if they do gain entry?

One big fear of anyone in debt or contemplating bankruptcy is that they will end up on a credit blacklist. The good news is that there is no such thing as a credit blacklist.

Five more myths about obtaining credit

If you are thinking of going bankrupt we always recommend that you seek professional advice before doing so. Find out more about the people who can help you make the right decision for you. Bankruptcy Help And Advice.

If you are unable to pay your debts when they fall due and have little prospect of doing so in the foreseeable future, a court of law can intervene and place you in a state of bankruptcy.

In England and Wales, you can either make yourself bankrupt by applying to the court to do so or a creditor who you owe at least £750 can petition a court to have you declared bankrupt.

In Scotland, personal bankruptcy is called sequestration.

Bankruptcy and your credit report
Bankruptcy will inevitably have an adverse effect on your credit rating and will be recorded by credit reference agencies. more

In 2007, personal bankrupticies in England and Wales rose by 2.4% while in Scotland the figure rose by an alarming 14.5%.

An Individual Voluntary Arrangement or IVA is a formal agreement, between you and the people you owe money, to pay part or all of your debts over an agreed period of time. more

Unlike bankruptcy which only affects individuals in the UK, insolvency can apply to both companies and individuals. more

A CCJ - or County Court Judgement - is an order made by a County Court for a debt to be repaid. more

What to do if a County Court Claim is made against you

More bankruptcy jargon explained

UK Bankruptcy News

Advice agencies struggle to cope with rising number of middle class debt problems

Personal insolvencies rise during first three months of 2008

35% rise in numbers seeking mortgage arrears help

House repossessions rise to 27,100 in 2007

Significant minority of consumers could experience financial problems in 2008 says FSA

Number of CCJs issued hits ten year high

Bailiffs to get more powers but not much needed regulation Citizens Advice warns

© Bankrupt.co.uk 2007, 2008. All rights reserved. Please note the contents of this website are for information purposes only and do not constitute financial advice. Please seek independent professional advice before taking action that may affect your financial well-being.