In Northern Ireland today more and more people are facing the reality that Bankruptcy is a real option to help them resolve their debt problems.
In the past Bankruptcy in Northern Ireland has not been so popular. Many people thought that Bankruptcy carried a stigma. This stigma no longer exists. The government has introduced new bankruptcy guidelines and has made bankruptcy a sensible solution for people who are experiencing debt problems.
I am considering bankruptcy. What should I do?
The stress and worry that comes with mounting debt only persists if you try to ignore the situation, but by doing this the consequences are much worse. You could even find yourself in a position where bankruptcy is forced on you by your creditors. By filing for bankruptcy voluntarily you remain in control of the situation, and have a bankruptcy company on your side to assist you every step of the way. We are here to help you file for your own bankruptcy.
Click here to find out more about the Bankruptcy Assistance service
Will I lose everything?
Despite the myths that surround bankruptcy, you can keep the tools of your trade, bedding, clothing, furniture, your car (if under £4500) and other household goods. Once you declare bankruptcy there is no threat of bailiffs coming round. Once bankrupt, creditors can no longer contact you for the debt as you will no longer be responsible for it.
Going bankrupt will give you the chance to wipe off your debt and have a fresh start. Within 12 months a first-time bankrupt could be discharged, and any associated restrictions will be lifted.
If you don't own your home, and if your occupation isn't affected, then bankruptcy is an insolvency option worth your time considering.