effective debt solutions header effective debt solutions about effective debt solutions consolidation loans bankruptcy iva debt management effective debt solutions
debt written off usually a last resort no more charges may provide peace of mind
government debt solution your assets will be sold to pay your debts stop threatening letters from creditors debts written off

Bancruptcy from effective debt solutions  

Bankruptcy is an option that should only be considered as a last resort.  Whilst you may be able to start again without overwhelming debts, there are many disadvantages to bankruptcy, and you should consider other solutions such as an IVA first. If you are considering bankruptcy, you should first fill out the simple form to the right, and one of our trained debt advisors will see if an IVA or debt management plan is more suitable than bankruptcy. If you decide that bankruptcy is the only answer, the implications are far reaching.  You will lose control of your assets, which will be sold to pay your creditors (people and companies that you owe money to).   Your credit rating will be severely affected for some time after the bankruptcy making it very difficult to get loans, store cards, credit cards etc.  You cannot act as a company director, or form, manage or promote a limited (Ltd) company.  Your bankruptcy will be announced in the local newspapers and you may be publicly examined in court.  As an alternative to bankruptcy you should see if an IVA is viable for you.  This is a Government debt initiative that allows a proportion of your debts to be written off - sometimes as much as 75%, and avoid bankruptcy.  To see if an IVA is suitable for you just complete the simple form to the right for free - you are under no obligation at this stage, but may be taking the first step to becoming debt free.

debt management IVA bankruptcy consolidation loan
one monthly payment one affordable monthly payment write off debt upto 75% of your debt written off peace of mind may provide peace of mind save monthly repayments save on monthly repayments
freeze interest may freeze interest reduce payments reduce monthly payments assets sold your assets will be sold to pay creditors clear debts clear your other debts quickly
stress free stress free interest frozen interest frozen write off debts debts written off one monthly payment one monthly payment
don't deal with creditors you don't have to deal with your creditors minimum £10,000 debts debts of at least £5,000 last resort usually a last resort reduce your bills reduce your monthly bills
More about debt management More about IVA's More about bankruptcy More about consolidation loans

Bankruptcy explained

Bankruptcy is a legal status that usually lasts for one year.  Bankruptcy should be taken very seriously, and before you make yourself bankrupt you should see whether an IVA is available to you instead.  This will enable you to have a significant proportion of your debts written off - as much as 75% in some cases, and become debt free over a 5 year period.  If you are made bankrupt, you will lose any possessions of any value, which will be sold to pay off a proportion of your debts.  Depending on your earnings, you may also have to pay fixed monthly installments from your income for upto 3 years.  You will still have to meet ongoing commitments such as rent and any debts incurred after you have been made bankrupt.  Once bankrupt, you must stop using credit cards and bank accounts.  You must also not obtain credit of over £500 without telling the creditor that you are bankrupt.  If your debts are overwhelming, fill out the form above and see if an IVA from effective debt solutions is the answer for you. 

clear debt solution   debt cures   clear my debts   help with debt problem   government debt solution
debt written off   write off debt   credit card debt help   fast debt test   IVA form   get out of debt
Individual Voluntary Arrangement   clear debt online   reduce my debt   clearing debt