What are the effects of bankruptcy?

During a person's bankruptcy period the following apply

Once a person is discharged from your bankruptcy you are no longer bound by most of the legal implications of bankruptcy. But a person will be registered with the credit reference agencies that you were bankrupt and this will stay on your credit file for six years. After this point, when applying for a mortgage, a person may still have to declare that you were bankrupt.

Big rise in bankruptcy in last decade
THERE has been a steep rise in the number of bankruptcies in Worcestershire during the past ten years a new report has revealed. More than 4 times as many people are declaring themselves bankrupt compared to a decade ago, according to figures released by the Insolvency Service.

You will and can rebuild your credit rating, however it may take a long time.

Are you sure declaring bankruptcy is the only option? Contact us now and see if there are other solutions to declaring either personal bankruptcy or business insolvency

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Direct debit or cheques returns, slipping into the red, going into your overdraft or late payment fees. Did you know you can claim back these unfair charges back for the last 6 years? Even if it was your own fault that you incurred the charges. Chargeclaims.co.uk's expertise in contract and consumer law provides customers with the clout and the confidence to take on the banks and cream off some of the fat cats’ profits.

Debt and Bancruocy adviceBankruptcy – a complete guide to IVAs and business bankcrupcy

When you or your company are made bankrupt, your assets (possessions, home, income etc) can be used to pay your debts. You have to agree to certain restrictions and your financial affairs will be investigated. Find out how bankruptcy affects you and where to get advice on dealing with your debts.

see our Bankruptcy Advice Centre

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