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If you owe money that you cannot pay, you may decide to declare yourself bankrupt. In some situations, if you owe £750 or more, the people you owe money to may apply to make you bankrupt. Becoming bankrupt is often seen as a last resort but, for some, bankruptcy can be a relief – putting an end to months or years of financial uncertainty.

When you are made bankrupt the things you own can be taken and sold to pay your debts. There are also certain rules known as bankruptcy restrictions that you must follow whilst bankrupt. At QualitySolicitors, we can explain exactly what bankruptcy entails and the restrictions and responsibilities that arise when you become bankrupt. Importantly, we may be able to help you find better alternatives to bankruptcy and put a debt management plan in place to help you regain control of your finances.

You may be worried about what will happen to your home and possessions if you become bankrupt. We will explain everything to you in straightforward terms and do all we can to minimise the impact on you and your family. In many cases, becoming bankrupt does not have to mean losing your home.

If your creditors have applied to make you bankrupt or if you’re considering bankruptcy, talk to us as soon as possible. Our friendly solicitors will make the process much more straightforward and help ease your worries.

With our free initial assessment promise, you can discuss your options before deciding what action to take, so call us on 01905 401 893today.

Team members

Frances Woods
Partner, Head of Litigation
Mark Blake
Partner, Litigation
Sarah Grantham
Trainee Legal Executive

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Why QualitySolicitors?

QualitySolicitors is the largest network of law firms in the UK, with local law firms spanning the whole of England and Wales and customer service at the heart of everything we do.

We are dedicated to providing the highest quality legal advice and expertise for our clients, but in a way that’s far friendlier, more accessible and clear-talking than you might expect from a law firm.