- It is official - Trumpo has been mauled by the Bear.
- The FTSE 100 has dropped again today to offically trigger a bear market.
- Fri 11th Jul 2008
- Interest rates set to rise.
- Trumpo weeps along with builders, bakers and candle stick makers.
- Fri 20th Jun 2008
- House Builders weep
- Trumpo has just been sent a frightening set of statistics from a super-successful builder.
- Fri 13th Jun 2008
Bankruptcy Advice
Bankruptcy is always a last option, and you should only consider this if all other solutions have been exhausted. Nobody wants people to go bankrupt, least of all the people you may owe money too.
Whilst bankruptcy is still a hard procedure to go through its not the end of the world. It just basically means that you are in such financial dire straits that it is time to hold your hands up, say you cant meet your obligations and you need to declare bankruptcy and start again.
There however certain criteria that needs to be met if you are considering going bankrupt. The Insolvency service says the following:
"Bankruptcy is one way of dealing with debts you cannot pay. The bankruptcy proceedings free you from overwhelming debts so you can make a fresh start, subject to some restrictions; and make sure your assets are shared out fairly among your creditors. Anyone can go bankrupt, including individual members of a partnership. There are different insolvency procedures for dealing with companies and for partnerships themselves."
Before going down this route we would ask you to speak to a debt professional, to ensure this is the best route for you.
If you have a mortgage and have no equity or collateral left in the property then it's unlikely that a new lender will look to help you. It will be best to speak to a trusted debt professional who will advise you on the next best options.
- If you would like free debt advice, you can complete our simple form and a Trusted Trumpo Debt Advisor will contact you at a time of your convenience.
If however you are certain this is for you, we have provided links to areas of the insolvency service guiding you though what you need to do next and should answer any specific questions
- The Insolvency Service guide to bankruptcy
- When will my bankruptcy end?
- What Will happen to my home?
- What will happen to my pension?
- Can my bankruptcy be cancelled?
- When I meet with the insolvency official receiver, what happens?
- What happens to my bank account?
- How to make yourself bankrupt and deal with the petition yourself.
