Bankruptcy is the most severe debt solution currently on the market in the UK. As such, it is surrounded by a certain stigma and has a variety of significant effects on your personal finances. It’s totally understandable that you could find the prospect of bankruptcy proceedings daunting. It can go hand in hand with repossession of your home and other valuable assets, as well as having widespread impact on other aspects of your personal and professional life. Bankruptcy is a big deal but it’s not the right debt solution for everyone. After all, everyone faces different pressures and their financial situations will be personal and varied, so the solution to their problems will also be personal and should be tailored to their different circumstances. [Read more…] about What Happens if I Declare Myself Bankrupt?
Debt Consolidation
Debt Consolidation Advice
Recent research, which was carried out by the Citizens Advice Bureau, has highlighted a trend amongst debt advisors in the UK. They are showing a rapid growth in the number of individuals coming to them with consumer credit debt problems. The Citizens Advice Bureau looked at over 8,000 debt cases and the figures showed that the average amount that was owed is over 14 times the average monthly income. That’s a significant level of unsecured debt and the causes are personal and wide ranging. [Read more…] about Debt Consolidation Advice