Bankruptcy Advice

For bankruptcy advice in the UK and information on the consequences of personal bankruptcy, bankruptcy annulments and how to avoid bankruptcy contact the Re10 Debt Advice Helpline.

Bankruptcy is a formal court procedure which you can start or which one or more of your creditors owed at least £750 can start.

Your assets (with certain exceptions) are sold to help pay your creditors. However, you can usually keep your personal belongings, the contents of your home and your tools of trade (which may include your car) unless they have a high value.

If you have surplus income after meeting your essential household and personal expenses, you will have to make payments out of your income for up to 3 years.

Your assets and income are dealt with by a licensed and regulated insolvency practitioner or by a government official called the official receiver.

Bankruptcy usually lasts for 1 year, and once you have been freed (discharged) from your bankruptcy, you are released from your debts (with certain exceptions).

Re10 Debt Advice Helpline provide advice on the following debt solutions:

• Individual Voluntary Arrangements (IVAs)

• Bankruptcy

• Bankruptcy Annulment Service

• Debt Management Plans

• Debt Consolidation Loan

Getting in touch with an insolvency expert for free debt advice is as easy as picking up the phone. Call the Re10 Debt Advice Helpline on free phone 0800 169 1536