Get free bankruptcy advice
Bankruptcy is a form of insolvency and is normally only suitable if you can’t pay back your debts in a reasonable time. Assets you own, such as your house or car will usually be sold to pay off your debts.
This means if your assets are worth more than your debts or if all of your regular payments are up to date and you can afford to keep paying them, bankruptcy is unlikely to be the best option for you.
You must seek professional advice if one or both of you are considering going bankrupt. Our online debt advice tool, Debt Remedy, will assess your situation and see if bankruptcy is the best solution to your debt problem.