Bankruptcy means you don’t have to drown in debt…

How would you feel if you could talk to someone who could guide you through a process that quickly clears every one of your debts, stops calls from angry creditors and replaces fear with confidence. Bankruptcy can be a very practical way of dealing with difficult debts.

It takes just a 5 minute chat to find out if bankruptcy is the best solution for you.

Bankruptcy
Watch this quick introduction

About Bankruptcy

We know that when considering the right choice in a debt solution, it is important for you to be aware of all of the factors involved. During your initial consultation over the phone with our advisors and the documentation you will receive in writing, any fees and further considerations will be disclosed fully.

When declared bankrupt a court will appoint an official receiver to manage your financial affairs who may choose to sell off some of your assets to pay your debts.

A Clients experience with Bankruptcy

Anyone’s circumstances can suddenly change sometimes causing havoc with even the best financial plans. Sadly this is what happened to a woman we shall call Client H.

She was managing to pay £699.16 every month to tackle an overall unsecured debt of £34,958. Then things changed resulting in a divorce, a significant drop in income and subsequent inability to pay her debts.

Her approach to Smooth started the successful process of dealing with her debt. After carefully examining her financial circumstances it was agreed that bankruptcy was the only route to take. We handled all the creditors letters and phone calls, prepared documents for the court and paid the court fees up front.. The initial debt of nearly £35K was wiped clean.

*This is an example and is subject to person circumstances

Pros

• You will no longer be liable for the debts included in the bankruptcy. Some debts like court fines will not be written off.

Cons

• Your bankruptcy will be advertised in the local newspaper and London Gazette.
• If they are deemed to be of excessive value, any of your assets can be sold.
• You will not be able to act as a company director until you have been discharged.
• There can be restrictions on you practicing as a Solicitor or Accountant.
• Some occupations have restrictions regarding being bankrupt

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