If you’ve delayed seeking advice, there’s a good chance your financial affairs will have deteriorated to such an extent that you may now have only one option – that of bankruptcy. This needn’t be such a bad thing;
Some people have more than one option. This is when things start to get really interesting, because no option is ever ideal. Each will involve you having to give up something. You will need to compromise, focus on the bigger prize of losing your unsecured debt. We will help you assess the relative merits of each solution;
Thre’s a trade off between the level of control you have over the process and the debt written off.If retaining control yourself is important, you won’t be able to write off any debt.If writing off debt is important to you, because this is normally best achieved through a formal insolvency process, you will have to relinquish control of your assets. This isn’t as bad as it first sounds – if you know how the process works, you can still be reasonably certain of the steps and outcome, control becomes unimportant. Read our summary of your options page;
Working through your debt problems, whatever route you take, will be a roller coaster ride. There will be both bad and good times. You’ll be surprised at what support you get and where you get it. You’ll also be sorely disappointed with others you thought would stand by you but won’t when put to the test. Listen to the words of this song, it summarises how you need to approach this.