Bankruptcy is a state achieved when an individual or a partnership has legally declared that they are unable to pay their creditors.
An alternative way of viewing it is as a way in which to deal with debts you are struggling to pay. It has both positive and negative consequences which must be carefully weighed up before a decision is made, which is why we have put together a group of pages which discuss all the options.
If you are wondering what it costs to declare yourself bankrupt, or what will happen to your assets, we have created a bank of information here to help you make the right decision.
Also, if you are a creditor wondering how to go about getting your money back, and what is involved, we also have articles here to help you.
If you would like to obtain legal advice on matters concerning bankruptcy, we can help to put you in touch with a local specialist solicitor. Our service is free. Call our experienced case handlers on 0800 1777 162.