Qualified advisers answering your
Financial Questions
call 0800 092 1245

Is bankruptcy an option in your financial situation?

As consumer debts continue to rise in the UK, despite historically low base rates, more and more people are now taking professional advice regarding their debts. Even though there are many options available such as debt consolidation loans, IVAs and Trust Deeds in Scotland it seems that more and more people are now being forced down the route of bankruptcy.

Even though bankruptcy is the ultimate call for any consumer in financial trouble, it is an option which more and more people are facing up to in the short to medium term. While the depth of the ongoing recession has caused major damage to consumer balance sheets, it is the length of the recession which has ultimately forced many to consider bankruptcy. It is vital that you take professional advice if you're looking down the bankruptcy route because there may be other opportunities available to either delay any potential activity by debt recovery companies or the repossession of your home.

The UK government has instigated a number of programs which have been targeted at those in serious financial trouble although there is some controversy as to whether they have proved useful and ultimately whether they offer value for money. Whatever situation you are in there are people you can talk to and there are things which can be done, do not suffer in silence!

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details