A bankruptcy gets rid of your debts and gives you a fresh start

At Leading Debt Solutions our team of experts have helped thousands of people make a fresh start by using a Bankruptcy procedure. Bankruptcy does not mean that you automatically lose all of your assets – there are many ways to properly plan for bankruptcy and protect your home or other assets. We will fully explain what is likely to happen in a bankruptcy before you commit to it. Often our clients have spiralling debts and are struggling to juggle their cash to make ends meet. In many cases, the situation is more serious and the fear of bailiffs knocking on the door or losing your home altogether has become a very grim reality. We specialise in helping you overcome these obstacles, allowing you to move on with your life without being crippled by debt. During your free, no obligation consultation, one of our experienced team will conduct a full financial review of your personal circumstances.

Our expert team will exhaust all avenues before a formal bankruptcy procedure is considered. Whilst entering into a bankruptcy procedure is an extremely serious step to take, it can offer the opportunity to start afresh, wiping all of your debts away.

Our team of experienced insolvency and debt professionals are on hand to explain and discuss all of the implications with you and will be by your side to guide you through the process, every step of the way.

What is Bankruptcy ?

Bankruptcy is a legal solution for people who have accumulated unmanageable unsecured debts with little prospect of repaying them and who want to wipe the slate clean. Bankruptcy offers the opportunity to become debt free in 12 months but may require you to sell some of your assets such as cars or property to go towards repaying your creditors. Entering bankruptcy will impact your ability to obtain credit both during and after your bankruptcy and in some cases may affect your employment status if, for example, you work in financial services. If you come into any assets, such as inheritance or lottery wins, during your bankruptcy period you will be required to declare this and pay the money into the bankruptcy.

Sometimes a creditor will start bankruptcy proceedings against you if you cannot come to a payment agreement with them. It is crucial that you take advice at an early stage if you wish to understand the implications of bankruptcy on you, your family and your assets, and if you want to avoid bankruptcy.

These are just some of the reasons why entering into a bankruptcy procedure should be considered very carefully. We can advise you and your family on what matters need to be considered before you choose bankruptcy.

How does Bankruptcy work?

One of our Advisors will complete your financial review and explain all of the benefits and downsides to bankruptcy, individual to your circumstances. If you choose bankruptcy we will help you to complete the necessary forms, including the bankruptcy petition, that are required by the Court. These forms are sent to the Court, who will then schedule a hearing date. The bankruptcy hearing is generally a simple matter and is not as daunting as many people believe, although we will attend Court with you if you wish. During this hearing, the Court will review the documentation and will most likely make the bankruptcy order there and then and your case is passed to the Official Receiver (the Trustee) to manage for the duration. The Trustee is then tasked with selling any assets for the maximum value to repay as much as possible to your creditors and will also liaise directly with your creditors, meaning they no longer chase you for outstanding monies. The Trustee may ask you to contribute any surplus income you have for up to three years. At the end of your bankruptcy, you will be discharged and can look forward to your new beginning.

For a free, confidential, no obligation discussion to find out how we can help you, contact our team today on 0800 246 1845 or mail@leading.uk.com.

Why use Leading Debt Solutions?

Our team are always on hand to guide you every step of the way

We understand that you may need advice quickly. That’s why our team of experts are available by email or telephone outside of standard office hours in order to provide an efficient service without compromising quality. Additionally, we know that dealing with your financial problems will always be a priority which is why we are happy to meet with you out of hours in the evening or at weekends

Our team are empathetic and non-judgemental

We know that it can be difficult to discuss the financial issues you are facing and coming to terms with your situation can be daunting. That is why our team of experts will take the time to listen without judgement in order to help you move forwards without being crippled by debt.

We offer flexible payment plans

We appreciate that anybody facing financial distress will want to avoid hefty professional fees. That is why we always provide a free, no obligation consultation to discuss your options and should you choose to appoint us, will always agree a flexible payment arrangement, generally meaning there will be no upfront fees.