Are you considering bankruptcy?

If you are overwhelmed with debt and unable to pay your bills and debts you may be considering bankruptcy. You should always get advice before going bankrupt because of the effect that this can have on you afterwards.

The Housing Debt Advice Team can advise you of your options and assist you with whatever decision you choose to make. You can also get help from the Consumer Credit Counselling Service who now provide bankruptcy advice service free of charge. Telephone them on 0800 138 1111.

If you have tried making an informal Debt Management Plan arrangement with your creditors or have not been able to keep to the payment arrangements you may wish to consider another form of insolvency.

There are several different insolvency options available and the one best suited to you depends on you individual circumstances. They are:

• Administration Order
• Debt Relief Order
• Independent Voluntary Arrangement (IVA)
• Bankruptcy

We can advise you of your best option and discuss any restrictions these may put on you.

Date Updated: 27/02/12