Essential Information
Practical information about bankruptcy procedures, terminology, and implications for individuals facing insolvency. Articles cover court processes, housing impacts, available support, and debt relief alternatives.
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.
Bankrupt but Due to Inherit: Who Owns the Property?
When you're bankrupt, inheriting money or property gets complicated—here's what actually happens to it.
Bankruptcy for Company Directors
Company directors face strict legal restrictions when bankrupt, including losing the right to direct companies until discharged.
Bankruptcy Statistics
UK bankruptcy numbers surged dramatically in 2006 and 2007, with cases rising over 70% year-on-year and reaching epidemic levels.
Bankruptcy Top Questions
Get answers to common questions about personal bankruptcy, from court petitions to how long it lasts and what happens to your assets.
Bought or Rented Home and Bankruptcy
Your home can be sold if you go bankrupt, but you'll usually get time to find somewhere else or your partner can buy out your share.
Common Bankruptcy Terms Explained
Get clear explanations of key bankruptcy terms like bankruptcy orders, trustees, and statements of affairs.
Debt Relief Orders: Helping to Reduce Bankruptcies?
Debt Relief Orders offer people in financial hardship a cheaper alternative to bankruptcy, costing just £90 instead of hundreds in court fees.
Getting a Mortgage After Bankruptcy
You can still get a mortgage after bankruptcy, but you'll need to know what lenders expect and how to approach them.
Getting Help When in Financial Difficulties
When money troubles mount, getting proper advice early can prevent serious debt problems and protect your future.
Guide to Bankruptcy: Bank Accounts
Your bank account gets frozen during bankruptcy, but you still have options like managed accounts and prepaid cards to handle bills and wages.
How the Courts Deal with Bankruptcy
Bankruptcy petitions go to your local county court, and hearings usually happen quickly once you file, here's how the process works.
Life as a Discharged Bankrupt
After bankruptcy discharge, your debts are wiped and you regain control of your assets and ability to borrow again.
More Than 10,000 Britons Declared Bankrupt Every Month
Over 10,000 Britons filed for bankruptcy every month in 2009, hitting the highest rate since records began in 1960.
Take Our Bankruptcy Questionnaire
Answer a quick questionnaire to see if bankruptcy might be right for your situation.
Ten Important Facts About Bankruptcy
Understand what actually happens when you file for bankruptcy in the UK, including court fees, paperwork requirements and why it's not a quick fix.
Your Bankruptcy Questions Answered
Get honest answers about bankruptcy's real benefits and drawbacks before making this major financial decision.