I Want To Go Bankrupt To Get a Fresh Start

divorce papers

Question Jon, I will give you an overview of my situation, and then also let you know my plans. I would just like a second opinion. I met my ex-wife at uni and were married and now have 2 children. My debts are as follows: 1 Credit card with a balance of about £3,000 A […]

Should I Go Bankrupt?

Question Hi Jon, I am currently in an IVA, but am struggling with the payments due to increased expenses. My gas and electricity have gone up when my tariff ended last month. I also am earning less as my shifts have been reduced. I am wondering if bankruptcy is not the best way for me […]

I Am Stressed About My Debt And Need Advice!

Question Hi and I hope you can provide some advice. I was placed on furlough when the pandemic hit, and now have been made redundant. I have a lot of debt due to living off of credit cards and trying to manage paying my mortgage. I am tired of it all. I looked into an […]

How Do I Go Bankrupt?

Question I want to go bankrupt, but I do not know how to do this or what happens? Rog Answer Hi Rog, Without more information, it is difficult to advise if bankruptcy is your best option. Bankruptcy is a form of insolvency, and does affect your credit, just as all forms of insolvency can. However […]

I Need Some Advice On How To Handle My Debts Now That I Am Redundant.

Question Jon, I have £20,000 of debt from a few credit cards, and some consolidation loans. I tried to consolidate the credit card debt on 2 occasions but I just kept using the cards. I was on furlough due to the virus, but have now been made redundant. There are jobs to be had, but […]

I Am In a Token Payment Plan And Getting Nowhere. What Can I Do?

Question Jon your advice to people is greatly appreciated, and I need some of it. I was made redundant a few years back, and entered into a debt management plan at that time. I have only found part-time work here and there over the past few years. When the pandemic hit I went to a […]

Can I Include a Loan To My Employer In Bankruptcy?

Question Thank you for taking my question, my situation is slightly different than most people in debt. I owe my employer £5,000, in addition to 2 credit cards, and some old business loans I have from years ago. I am paying them all, and so far on time, but I have no money left over […]

Help, I Need Some Direction As To How To Get Out of Debt.

Question I hope you can give me some direction on this as I am lost when it comes to money problems. I lost my job last Autumn due to the pandemic, and have not been able to find any jobs that paid nearly what I was earning. I am working part-time at a local supermarket, […]

Can I Qualify For a Debt Relief Order?

In as much as things change, they stay the same. Insolvency is insolvency, and some of the outcomes from insolvency can be going bankrupt, or entering into an IVA/Individual Voluntary Arrangement. In April 2009, a new form of insolvency was created and it was termed a Debt Relief Order or DRO. One of the reasons […]

How To Get Out Of Debt

“Neither a borrower nor a lender be” Hamlet Act 1, Scene 3 Debt: “The state of owing money to someone, or something”. Debt is a four letter word, and for some people, a dirty four letter word as they wish they were not in it (debt), or do their best to try and avoid it […]