Once considered a last resort, the entire nature and social perception of bankruptcy were changed by the introduction of the Insolvency Act in 2000.
Regardless of what previous generations may have thought, thousands of people took advantage of the fact that they could now use this route without any substantial long-term damage.
By declaring themselves bankrupt, the misery of their debt was wiped out.
Rather than being seen as a social stigma with repercussions for years, bankruptcy is now seen almost as a lifestyle choice.
Clearly, bankruptcy is not a soft option, and there are implications to being bankrupt.
But the advantage is that you will be discharged and therefore DEBT FREE within ONE YEAR.
If you wish to pursue this option, check out the information below
or contact the specialists listed on the right.