Whilst personal Bankruptcy is obviously not something that anyone aspires to, it can actually offer a welcome relief to those who are struggling with debts which they have no realistic possibility of repaying.

As an experienced, Licensed Insolvency Practitioner who has acted as Trustee in Bankruptcy and given advice to hundreds of individuals, Steve Ford of S P Ford & Co. is well positioned to advise on the advantages and disadvantages of Bankruptcy.

There are many myths about bankruptcy, and many people will have their own opinions about what it really means often based on what they themselves have heard from a friend of a friend.

Some helpful facts include:

  • In the vast majority of situations you will not lose your job as a result of bankruptcy
  • You will not go to prison as a result of not being able to repay your debts
  • You will not be forced to sell your house unless you have significant equity – even then negotiation may be possible
  • You will be able to rebuild your credit rating in the future, post bankruptcy

If you would like to discuss the option of Bankruptcy, or alternatives such as the IVA, with Steve Ford then please call 07718 133927 or click here to send an email enquiry.

Based in Lutterworth, Leicestershire, in the Midlands, and with meeting facilities in Leicester, Northampton, London, Bristol, Manchester and Leeds we are happy to meet with you at your convenience if we feel that we can be of assistance.