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FAQ'S
Do you need answers now?
Browse our most frequently asked questions.
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In most cases going bankrupt will have no effect on your employment, however there are certain professions and roles where you will need the official receivers permission to carry on.
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Your home may be sold by the official receiver to go towards paying your debts, however if you live with family it may be possible to delay any sale for a period of 12 months.
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Your bankruptcy will be registered with credit reference agencies and remain on your file for a minimum of six years. After this time you may still have to declare your previous history, particularly when applying for a mortgage.
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A Debt Management Plan is not a loan. All it does is place your debts with a third party who deals with your debts for you. People attempting to take control of their debts are being warned to beware of unregulated loans that can lock them in for years and leave them at the mercy of sky-high exit charges.
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You make only one affordable monthly payment, and if set up correctly all interest and charges are usually stopped.
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No, if you fall behind on payments of agreements secured against things such as your car or your home, your things may be repossessed.
