8 Tips to Improve Your Credit After Bankruptcy

credit report

You were bankrupt for 12 months, and now your bankruptcy has been discharged, you are now officially debt free, starting over, a fresh start. What next do you need to do. One thing to do is to take a look, if you have not already done this or know, what took you to the point […]

What Is It Like To Go Bankrupt?

Bankruptcy spelled in scrabble

The unknown is always a bit scary. You do not know what to expect, what will happen, and what the future may hold. When you are in debt, struggling with the bills, juggling who to pay, or not being able to pay anything at all, the great unknown of bankruptcy may seem a bit scary […]

How Much Debt Do I Need To Go Bankrupt?

bankruptcy written on a typewriter

Question How far in debt does a person have to be to go bankrupt in the UK? I owe way more money than I will ever be able to pay back, am no longer working, and receiving calls and emails daily about payments. I need to end this and try to get on with my […]

If I Go Bankrupt, What Are The Restrictions?

letters spelling bankrupt

Bankruptcy restrictions, or the rules you must follow if you go bankrupt, are few, but they can be how you say….restrictive. When you go bankrupt, or enter into bankruptcy, you are in essence saying I can no longer handle my finances and the debts I owe, and I need help. That help comes in the […]

Can I Include Victim’s Compensation in My Bankruptcy?

prison cell

Question Hi Jon, I am unsure if you can answer this, but I am out of options right now. I was convicted of a crime and ordered to pay compensation to the victim. The compensation is a huge amount, and once convicted of the crime I lost my job. I have other accounts I owe […]

Can I Include Taxes Owed to HMRC in a Bankruptcy?

coins with tax spelled on them

Question I owe a lot of money to HMRC, £25,000 plus. This came about due to my business going under when the Covid crisis began. I could not longer trade and could no longer pay my bills. In total I owe around £60,000. I have spoke with HMRC and they said they could make me […]

I Need To Avoid Bankruptcy To Save My House, What Can I Do?

houses with church steeple behind them

Question Hi, and I hope you can provide some advice. I have over £20,000 in debts, arranging from a car on finance, 3 credit cards, a personal loan, and a loan I took out for my daughter. I have recently been made redundant, but am hopeful to find a new job soon. I am in […]