Bankruptcy

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.

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Important information

For [selected AoL] law, solicitors will charge a minimum fee of £250 to provide an initial consultation and written opinion on your case. We have a number of recommended law firms in our network who could provide this service to you at the most competitive price. If you would like to proceed, click ‘Paid advice’ below and one of our advisors will call you on a free-of-charge basis to discuss this further with you.