Pro's and Con's of bankruptcy

hueygeorge

Hi all
Can anyone tell me what the pro's and con's are of bankruptcy please? I'm in approx £30k debt and have decided today to sort it out once and for all!! I'm going to ring the National Debt line tonight for advice, just wondered if I could get a head start from anyone on here?
Thanks

philnicandamy

Have a look here...

http://www.debtadvicebureau.org.uk/bankruptcy/bankruptcy_pros_cons.html

hueygeorge

Thanks philnicandamy - I feel like I've got a guardian angel on these boards!! Will have a look and go from there - cheers

philnicandamy

just remember though...it's your decision in the end what you do be it bankrupcy, IVA, Debt management Plan etc your circumstances are unique to you, the debt charity telephone numbers are there to advise you about the best course of action.

Phil

NorthernOne

philnicandamy wrote: »

Have a look here...

http://www.debtadvicebureau.org.uk/bankruptcy/bankruptcy_pros_cons.html

Having been bankrupt (now discharged after my year) I can say if you are single and rent then its no loss and the “pros” far outweigh the “cons”

Generally if you own anything of value be prepared to either fight for it or have the OR take it.