Bankruptcy can be the best option for dealing with debts and can allow the debtor to make a genuine fresh start with their lives. It is a perfectly legitimate way of dealing with debts and no longer seems to have the stigma attached it once was perceived to have with many people now taking this option.

How are you made bankrupt?

How much does bankruptcy cost?

There are numerous charities that may be able to assist with bankruptcy fees & costs including the Severn Trent Trust Fund & the Royal British Legion

Some Advantages

Some Disadvantages

Please note there are advantages, disadvantages and possible serious implications with bankruptcy and other dealing with debts options mentioned in this guide. We would always strongly advise that you seek full in depth advice from the CAB or an alternative agency before making any decisions.

Also, see our Basic Bankruptcy Guide for further information.

Useful links

What do I do next?

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