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Bankruptcy in England and Wales

BANKRUPTCY IN ENGLAND AND WALES CVSLTD.Co.UK | THE HOME OF BAD CREDIT CAR LEASING WHAT IS BANKRUPICY? One of your options if you have debt problems could be bankruptcy. You can apply for bankruptcy if you can't repay your debts. In addition to being able to make yourself bankrupt, a creditor (someone you owe money to) can ask a court to make you bankrupt. A creditor can only do this if you owe them at least £5000. PROS OF BANKRUPTCY HOW TO APPLY FOR BANKRUPTCY? 1 START APPLICATION ONLINE www.gov.uk/apply-for- bankruptcy ALL UNSECURED DEBTS ARE WRITTEN GIVE CREDITORS YOURSELF A FRESH WON'T PROVIDE INFORMATION CONTACT You'll need to provide information about your income, outgoings and debts such as: YOU. OFF. START. • wage slips • benefits or pension CONS OF BANKRUPTCY statements • bills - for example, electricity, credit card and council tax • letters from a bailiff or enforcement agent POOR ANY ASSETS MAY BE BAN UPTCY PAY THE FULL FEE YOU WILL NOT INCLUDED IN YOUR BANKRUPTCY SUCH AS YOUR WILL REMAIN You cannot submit your BE ABLE TO ON YOUR application until you've paid the full fee of £680. (You can pay in ACT AS A CREDIT HISTORY FOR COMPANY HOUSE. DIRECTOR. 6 YEARS. instalments.) BANKRUPTCY ADVICE Citizens Advice | Money Advice Service | National Debtline

Bankruptcy in England and Wales

shared by sarahcvsltd on Nov 26
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Infographic outlining what bankruptcy is, the pros and cons and how to apply.

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