call our free bankruptcy helpline on:
0800 690 6855
Answer: You can include the shortfall in the debt management plan, or look at an IVA if you qualify, however the shortfall will in all probability be the majority creditor and could reject any plan.
Bankruptcy is an option as the shortfall can be included.
I hope this has answered your question.
For more information and assistance, please complete our eligibility form at our web site www.bankruptcy.org.uk or ring us at 0800 690 6855.
Regards,
Jon
If you have a serious debt problem, bankruptcy can free you from your debts within 12 months. As a solution for dealing with serious debt, bankruptcy is a last resort. Other debt solutions need to be explored first, to help determine if bankruptcy is the right debt solution for you.
Your financial affairs are put into the hands of an Official Receiver or Trustee, who will control all your assets - and if you own a property, this will also be included. These will be sold and the money used to pay as much as possible to your creditors.
There are consequences to bankruptcy which will affect your finances and work life. You may struggle to borrow money, for example, and will not be able to apply for certain jobs.
For some, bankruptcy is the right option and will put an end to pressure from creditors. Our team of experts are on hand to advise on the best solution to your debt problems - call now on 0800 002 9951.
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