To become completely debt free, call
0871 245 4885
0871 245 4885
PHOENIX
In April 2004 The Enterprise Act 2002 became law, which made considerable changes to the laws concerning Bankruptcy in England & Wales. The emphasis is to help individuals recover from overwhelming debt situations. The law was changed to give those with genuine cases of financial hardship the opportunity to be free of their debts.
Bankruptcy will write-off all your personal debts at a stroke. All your personal debts, which might include credit and store card, personal loans, mobile phone accounts, utilities debts, and if you are self-employed, all business debts, including Inland Revenue and VAT, are written-off.
BUSINESS SERVICES
Bankruptcy...the cheapest, quickest solution to all your debt problems
Once you're bankrupt your creditors, by law, must then stop calling or harassing you. The threatening letters and phone calls will stop; bailiffs will stop calling at your home. You will stop paying the hundreds of pounds you are now paying every month - you'll be debt free and be free to spend your income however you want, instead of repaying old debts.
Previously, Bankruptcy would last for a period of 2 to 3 years, but now the majority of bankruptcies will be discharged after only 12 months, many before. Bankruptcy will not effect your employment or benefits; if you are self-employed, then subject to certain conditions, you can continue to trade; you can have a bank account. Indeed, save for not having to pay old debts, and being worry and stress free, the bankruptcy will have little or no affect on your life.
You will not automatically lose your home. If you live in rented accommodation, there will be no change. If you own your property, then your share of the equity (if any) can be swiftly and cheaply transferred to your spouse or a family member.
You will not automatically lose your home. If you live in rented accommodation, there will be no change. If you own your property, then your share of the equity (if any) can be swiftly and cheaply transferred to your spouse or a family member.