Bankruptcy

The decision to file for bankruptcy is usually a last resort, and is an extremely daunting decision to make when your debts have become too much to contend with and there is no other option.

At Clough & Willis, our team of specialised solicitors realise that bankruptcy is not the best solution for everyone, and in many cases, there are other processes that are better suited to your personal circumstances. For this reason, it is advised that you speak to a legal professional as soon as possible to discuss your options. 

Our solicitors are here to help you find the best solution for your needs and give you all the information you need when trying to resolve your financial issues. 

Call Clough & Willis today for digestible advice that is easy to understand. We understand the sensitivity of this matter, and will be with you every step of the way to help you find the right solution. Phone 0800 083 0815, or fill out an online enquiry form and a member of the team will get back to you.

More about Bankruptcy

Bankruptcy gives people the chance to write off their debts by using their assets - such as possessions, property and income - to make contributions in order to settle any debts. In order to apply for bankruptcy, you - or your creditors, if they issue a petition against you - need to go through the courts and pay bankruptcy fees.   

If the petition has been accepted, a bankruptcy order will be issued and an insolvency practitioner - or the official receiver - will be appointed as your trustee. This individual will manage the process while taking over the control of your assets. 

There are a number of possible reasons why a person may want to file for bankruptcy over other debt management solutions, however, doing so has a huge impact on the lives of those it affects which is why it is important to seek professional advice before taking any action.

Contact us today

To speak to a legal professional about your finances, contact Clough & Willis today on 0800 083 0815, or fill out an online enquiry form.

 

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