Stop Bankruptcy Petition - 3 essential steps
As Established Debt Counsellors for over 5 years we have helped stop many threats and Bankruptcy Petitions, we offer free help and expertise that others don't or can't provide, please read the following carefully.
You won't find anyone else providing our specialist approach and we often speak to people who contacted us after wasting valuable time trawling the internet commented they "wished they had contacted us sooner" please see about us
"Thank you very much for your great help in getting me on the right track, being in debt was a big worry but for your help the worry has nearly gone. I wont think twice about recommending you" Mr B
Banks, Financial Institutions and their Representatives take recovering debts very seriously but some can go to almost any lengths to obtain money, don't make matters worse with your lack of knowledge.
- Don't trust anything you are told - get everything in writing.
- Don't make agreements you can't keep, you will make matters worse.
- Don't tackle this yourself without experienced help, your lack of knowledge experience or emotional attachment can lead to expensive mistakes.
Stop a Bankruptcy Petition - 3 essential steps
Question - Should a Petition even be issued?
Confused? You would be surprised how many cases we identify in step 1 where a Bankruptcy Petition should never have been issued and we can help you get this threat stopped before its issued or defended in Court.
Step 1 - Check your debt, paperwork, and process
For example in many of the cases we see, in the process both before and after a Bankruptcy Petition is issued, strict rules and regulations had not been followed, documentation necessary had not been correctly completed.
We also find Loans in general had often been incorrectly calculated and not by just a few pounds with issues including Substantial hidden Broker commissions, over-charging from interest, charges penalties and fines.
Some can even be voidable or unenforceable and whether its just a threat or you have received a Bankruptcy Petition now is the time to act and we can quickly identify if you have reasons to stop or defend the Petition.
You have nothing to lose and the check is free so please call or email now.
Step 2 - Check your options to stop Bankruptcy
Even when we have established reasons that you could use to stop or defend a Bankruptcy Petition understanding your options is essential especially if you have other debts, to make the right decission before taking the next step we will as part of our review check your options.
- Can we help you use any issues in step 1 to stop a creditor issuing a Petition or defending a Petition.
- Can an IVA agreement be used to stop or avoid Bankruptcy by consolidating all your unsecured debts into one affordable monthly payment with interest and charges stopped.
- Would a loan or a financial restructure realistically help you deal with the debt.
- Will negotiation with your creditor be a genuine option.
Step 3 - Quickly get your solution in place
We will explain the pro's and con's of your options and once you are ready to move forward we will quickly help prepare to put your solution in place.
The clock is ticking with a Bankruptcy Petition and your options could reduce if you waste valuable time, if you intend to defend this you must notify the court at least 7 days before the hearing.
If you have already decided on a course of action, would like a second opinion or just need help with a Bankruptcy petition if you contact us we would like to offer our free advice and help.
Potential traps - These can be an expensive mistake
- Allowing yourself to be lulled into a false sense of security by something you have read on the internet. (about us)
- Trying to get a loan without realising as a home owner the land registry are notified which stops you using this as security and a specialist approach which we can help with is normally needed.
- Wasting time relying on IVA instant decision websites that only provide a basic quick "in principle yes" is not helpful, a detailed audit has be carried out before you can formally apply.
- Just assuming you could win a legal case to stop or annul without being properly prepared or exploring all the options.
Established for over 5 years we have helped many people stop and even annul this type of legal action but it will depend on how quick you acted, your circumstances and making sure you get the right advice.
Bankruptcy - Key points
If you are being threatened with Bankruptcy or are considering Bankruptcy you must make sure you fully understand how this may affect you and we would advise you not to take any further action until you fully understand the terms and conditions.
Bankruptcy Law is very complex and the court service can provide you with further details on Bankruptcy and on top of any help we can offer we would always recommend you get legal advice but in brief terms some things to consider are:-
- Once a Bankruptcy Petition is issued and you are a home owner you will not be able to do anything with your property without the Courts permission
- To oppose a Petition you need to respond to the Court at least 7 days before the hearing date.
- Fees quickly add up from the Courts and others involved in the Bankruptcy which can effect your options to stop this.
- Once declared Bankrupt your name will usually be published in your local paper and the London Gazette.
- Your affairs could be investigated going back years to make sure you have not moved any assets prior to going Bankrupt, a typical example is putting your home in your wife's name before going Bankrupt and this could be viewed as fraud.
- You may lose some of your assets including your home.
- Whilst your debt could be written off after 12 months if the court believes you have been reckless or irresponsible Bankruptcy restrictions could be placed on you for up to 15 years which can mean making payments to your creditors for years.
- In some occupations bankruptcy may lose you your job or you can find certain jobs are not available to you.
- There are fees to pay if you wish to declare yourself Bankrupt however in certain circumstances part of these can be waived.
- You may be required to attend Court to explain why and how you got into debt and if you do not co-operate you could be arrested.
If you are not sure what you could do next, need urgent help or just further Bankruptcy Petition information please telephone or email one of our friendly consultants in confidence today
The call or email could change your life!
Free Confidential National Helpline 0800 781 9958
email: info@discreetdebtsolutions.co.uk
Bankruptcy Petition - IVA - Debt Management - Debt Negotiation - Free Affordability Assessment for Loans Credit and Finance - Bailiffs - CCJ's or County Court Judgements - Default Notice - Mortgage and Secured Loan arrears
Head Office :- York House Shoplatch Shrewsbury Shropshire SY1 1HN