Your guide to bankruptcy and the possible alternatives

You'll find clear, expert guidance here to help you understand your options and make informed decisions about managing debt and financial difficulties. Our comprehensive collection of articles, expert advice, case studies and real reader experiences provides everything you need to navigate your situation with confidence. Becoming Bankrupt is here to help.

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Why Appoint an Insolvency Practitioner?

An insolvency practitioner can help you manage serious debt problems and deal directly with creditors to avoid bankruptcy.

Advantages of Payment Protection Insurance

Payment protection insurance can help cover loan payments if you lose income, but compare options carefully and check the terms.

Administration Orders

If you have multiple debts and county court judgements, an administration order lets you pay everything back in one manageable monthly payment.

Administrator Powers

When a company fails, an administrator takes over to salvage what they can for creditors or wind things down properly.

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Latest Articles and Tools

Managing Utility Debts

When you can't pay your utility bills, contact your provider right away to avoid debt spiralling and legal action.

A Summary of the Impacts of Bankruptcy

Bankruptcy affects more than just your debts, your assets, income, and ability to borrow all face significant changes.

Payday Loans: Understanding the Risks

Payday loans can help in a pinch, but high costs and hidden fees often make them riskier than they're worth.

Payment Protection Insurance on Your Debt: Can You Claim?

Banks mis-sold payment protection insurance to millions, and you might be able to claim money back from your lender.

Changes to Bankruptcy Rules: Pay to Declare Bankruptcy?

New bankruptcy rules lower the disposable income threshold from £100 to £20 per week, meaning more of your money goes toward debts.

Impact of VAT Increase on IVA Payments

Higher VAT made IVA payments harder to afford for people already on tight budgets, and changing the terms isn't straightforward.

Terminating an IVA Agreement

If you can't keep up with your IVA payments, here's what happens if you stop and what options you have.

How Winter 2010 Threatened Small Businesses

Extreme cold in winter 2010 pushed thousands of UK small businesses toward bankruptcy, wiping out crucial Christmas profits.

Step by Step: Visiting the Official Receiver's Office

When you're declared bankrupt, the Official Receiver may ask you to visit their office for an interview to discuss your finances and debts.

Bankrupt But Due to Inherit: Who Owns the Property?

When you're bankrupt, inheriting money or property can be claimed by your creditors to pay down debt.

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