Cold Calls: We have received a number of people being 'cold called' by someone
claiming to work for Debtline Direct. Debtline Direct do not cold call anyone, ever.
If you receive a call, please obtain any information you can about the caller and
email info@debtline-direct.com and
we will pass the details onto the authorities.
Is bankruptcy the best option for you?
Bankruptcy could clear your debt in less than one year
- Bankruptcy should be seen very much as a ‘last resort’
- Despite what people think, Bankruptcy can cost around £600 in fees and you may have
to make monthly payments for a maximum of 15 years, depending on your circumstances
- You could be discharged from Bankruptcy in less than one year.
- Bankruptcy seriously damages your credit rating – you may struggle to get a mortgage
for example
- Some professions prohibit Bankrupts from working in certain industries, meaning
you may lose you job.
- You are usually free of any debts once the Bankruptcy hearing has taken place
- In the long term, you will usually pay less back by declaring Bankruptcy
- You can ‘wipe the slate clean’ and start afresh, without a huge debt burden
If you’re considering Bankruptcy, you have to be able to demonstrate that you have
explored alternatives and taken professional advice. Complete any contact form on
this website and mention ‘Bankruptcy’ in the comments field and your case will be
treated as a high priority.
Your questions about trust deeds answered
Q. How quickly can I go Bankrupt?
A. Filing for Bankruptcy can be very complicated, especially if you have any assets,
such as a property and you may need professional assistance. Therefore, it can take
several weeks or months, depending on how busy the courts are.
Q. How much does Bankruptcy cost? A. A court fee of around
£600 is payable on the date of your court hearing. You may also need to pay for
professional help if you struggle on your own. Q. Are
there serious implications with Bankruptcy? A. Absolutely.
Any assets you own will very likely be taken away from you, meaning you may lose
your home. Your credit rating will be seriously affected for a minimum of 6 years.
Your name may even appear in your local newspaper.