How do I go Bankrupt? What are the Consequences?

Jane1234

Due to relationship breakdown, I have been left with no other options but to let the bank repossess my house. I have tried every other option possible but this is now my only resort!

Can someone please tell me:

1) How do I actually go bankrupt?

2) What are the short and long term consequences I will face?

Any advice would be very much appreciated!

Thanks so much in advance!

Rylynn

Morning Jane,

Sorry to hear you are in the position your find yourself in.

To go bankrupt you will first have to apply to your local court.

But first things first are you sure there is no other way round this? I only ask as I want to be sure you have taken sound advice and realise there are other options open to people.

I have gone bankrupt so I can advise you on what it entails, and what it was like, and what affects it had on my and my son at the time, what I cannot do is say this is what YOU should be doing.

Have you phoned any of the helplines or seen your local CAB?

RL