This is a question more and more people and businesses in the UK are asking themselves. And it is a good one.

Historically, people just like you have tried to avoid bankruptcy due to the perceived stigma of bankruptcy in the UK. Bankruptcy was thought to be something irresponsible people did. But that is just not true.

Bankruptcy today has become a logical, legal and beneficial tool for many people to use to remedy a difficult and problematic bad debt situation.

In a perfect world, you would be able to easily repay your debts, or enter into an IVA agreement to repay your debts over a five year period to avoid bankruptcy. But we don’t live in a perfect world, do we?

Today we live in a UK under siege from rising fuel and petrol prices, skyrocketing food prices, inflation and income stagnation.

So what reasonable solutions exist today for good people with bad debt? The cold answer, not many. Creditors have gutted the access to the IVA for many people by refusing repayments unless they feel it is worth their time. Now isn’t that just ironic, creditors are actually refusing to accept reasonable payments. Instead, creditors want consumers to avoid bankruptcy and agree to nominal monthly payment plans that will almost never clear the debt, even over a number of decades.

Bankruptcy is a legal solution to eliminate your debt, and one that should be explored.

But before you jump into bankruptcy, Read what the UK government Insolvency Service has to say about bankruptcy.

“Before you take any action to apply for your own bankruptcy, you should get your own legal or financial advice about bankruptcy and the other options available to you. The Insolvency Service and the courts cannot advise you on specific insolvency problems; for example, whether you should go bankrupt or your company should go into liquidation, or whether you should look at alternatives. You should get independent advice. You may consult a solicitor, a qualified accountant, an authorised insolvency practitioner or a reputable financial advisor.”

And that is why this site is here, to offer you help and assistance to make sure that bankruptcy is right for you. If you want assistance to go bankrupt, would like for us to complete your bankruptcy forms for you, or maybe you just need some specific advice, help is available here.