Bankruptcy Advice Guide

Bankruptcy is an extreme debt solution and should only be considered as a last resort, after all other debt solutions have been fully explored.

One Advice have a dedicated Bankruptcy Service who can offer you free bankruptcy advice and information. Please contact our specialist Bankruptcy advisors on 0800 019 5870.

Bankruptcy Debt Guides:

Bankruptcy is not a simple and straight forward procedure, and you will find the affect bankruptcy has on your life can last long term, such as your career prospects, assets and credit history... More >>

Once you have been declared bankrupt, you will lose control of your financial affairs and your assets. This article explains what could happen to your assets in bankruptcy... More >>

During your bankruptcy order you will be very financially and personally restricted. Once you have been made bankrupt, all of your assets and finances are controlled by the Trustee or Official Receiver... More >>

There are many financial restrictions which you will have to abide to during your Bankruptcy Order. It is important that you aware of these restrictions before you start the bankruptcy process...More>>

Although both bankruptcy and IVAs are potential debt solutions, it is important that you understand the distinct differences between Bankruptcy and IVA, and what this means to you... More >>

Being in debt does not mean that bankruptcy is the only answer to solve your debt problems. You should be fully informed about any potential bankruptcy alternatives, and which one is right for your circumstances... More >>

For homeowners, one of the worse case scenarios for those facing large levels of personal debts is bankruptcy. You lose control of your assets meaning that you will probably lose your home... More >> 

One Advice commits to maintain the accuracy of all website advice. But occasionally, rules and regulations regarding the advice given can change and our website may become temporarily out of date. To ensure that you have the latest information available please contact us on 0800 019 5870 and speak to one of our expert advisors.


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Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.

Failure to complete the term of an IVA can result in bankruptcy.

(In Scotland, a PTD is the equivalent to an IVA.)
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