Bankruptcy

Bankruptcy - Last Resort

For further information on bankruptcy click on the following links:

If you are considering Bankruptcy as a solution to your debt problems, it may pay you to consider an alternative solution.

Image placement

Will I Qualify

To qualify for an IVA your debts should total more than £15,000. You will need to be in receipt of a regular income and should be able to afford to pay at least £200 a month towards your debts. An IVA is suitable in insolvency situations, where other schemes would not be appropriate. Insolvency means that total debts exceed total assets. You may find that you could also qualify for a Debt Management Plan, if you are not insolvent so it is best to discuss the options with a professional advisor. To get in touch with us you need to spend just a few minutes filling in our online form to the right of your screen and you will be under no obligation.

Give us 5 minutes and we'll give you:

  • Advice on all debt solutions that you may apply for
  • If your debt can be written off
  • Explain any interest or charges that can be frozen
  • Honest, no obligation advice

Some solutions, such as a Debt Management Plan or an Individual Voluntary Arrangement involve costs when the plan is set up.  These costs are there to cover the expenses and work undertaken on your behalf.  You will always be told clearly about any costs upfront.  Other solutions, such as a Bankruptcy incur costs which are payable to the Court; Debt Relief Orders incur costs which are payable to the Insolvency service.

Debt Direct is a trading name of Tatstar Limited. Tatstar holds a consumer credit license to offer debt counseling. Your enquiry will be passed to a selected third party who will contact you to discuss the most appropriate solution for your circumstances.