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 […]

Changes in Debt Relief Orders Have Come Into Effect

There are many ways to get out of debt, and one of these is a Debt Relief Order or DRO. DRO’s were created as a new form of insolvency in April 2009, and were originally for those people who had debts, no surplus income after allowed expenses, and no assets, as a way to get […]

What Is The Quickest Way to Get Out of Debt?

There are many ways to get out of debt, and each has its own rules, guidelines, eligibility requirements, and also timelines. Some ways to pay off your debt can take years, some can take much less. Before we go over the quickest ways out of debt, let’s look at some of the other options to […]

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 […]

I Am in Poor Health and Have Debt, What Can I Do?

Question I have debts totally around £15,000 and no way to repay them. I cannot work due to poor health and am now only receiving benefits. I do not own any property, and can barely afford to live on what I receive. I need to be done with these debts. What can I do? Desperate […]