• Are you in a situation where your debts have spiralled out of control?

• Are you looking for a fresh start?

• If so, Bankruptcy may be your best solution as this is the only option that clears your debts completely and allows you to restart your life again.

• Our company offers one of the most specialist services available to people considering bankruptcy. We are here to help you through the various stages of bankruptcy. However complex your situation is we can provide assistance.

 

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Welcome to Bankruptcy Explained-Professional Bankruptcy Services

Welcome to Bankruptcy-Explained, a Bankruptcy service provider for clients living in England and Wales. Our specialist company supplies a complete and comprehensive service to help you through your Bankruptcy-no matter how complex your circumstances are.

 

If you have property, assets, sole or joint debts, employed or self-employed we are able to help you deal with your situation.

 

We offer an individual and confidential service explaining all of the facts that you need to know when declaring yourself bankrupt. We will help you every step of the way including dealing with all of your related paperwork, the County Court, your creditors, your property and support you throughout your period of bankruptcy.

 

How long does Bankruptcy last for?

Your bankruptcy will normally last the standard duration of 12 months. In 2004 the laws were changed regarding bankruptcy, reducing the term to 12 months where previously the minimum term was 3 years.

 

In many cases people can be discharged from bankruptcy after 6-9 months-this is known as an early discharge from bankruptcy. This will only happen if the Official Receiver has completed their investigation into the circumstances relating to your bankruptcy. For this reason the better your bankruptcy has been prepared the smoother the whole process is-it pays to take professional advice and makes the whole process much easier to deal with.

 

Complete our advice form on the left and one of our experienced advisors will call you to discuss your circumstances.

 

Alternatively call us for free! There is no obligation to use our services but we will advise you if Bankruptcy the best option in your situation.

 

Can I have a bank account while I am bankrupt?

You can have a bank account while you are bankrupt and this is something we will make sure of. This is an essential facility that everyone is entitled to and it is a common misconception that you cannot hold a bank account while bankrupt.

 

You can also hold a pre-paid MasterCard (APS CashPlus)while you are bankrupt. This is a very useful card to have as it does not allow you to go into debt but gives you the facility of a MasterCard to use for various reasons such as online purchases, car hire, shopping and holidays.

 

Contact us for more advice on this particular subject.

 

Will I lose my property and car if I go bankrupt?

Another misconception is that you will lose your property and car. In situations where you have a property you must get specialist advice. In many cases you can retain your property and your car-it is all dependent on value and equity.

 

In many cases the Official Receiver will allow the person that has been declared bankrupt to keep or re-purchase their asset. We have dealt with many bankruptcies where people have retained their property and paid a token payment of £1 to remain in their house, flat or bungalow.

 

Alternatively it may be better to hand your property back as part of the bankruptcy. When property is involved it is essential to take professional advice-contact us now to discuss your situation.