I'm struggling to understand how this works.

Discussion in 'Bankruptcy' started by richie1, May 13, 2016.

  1. richie1

    richie1 New Member

    can someone tell me pros and cons?
     
  2. blueeyes

    blueeyes New Member

    Hey:)

    I found this on their website: http://www.uk-debt-relief.co.uk/bankruptcy.html

    What are the advantages of bankruptcy?
    • It can be one of the quickest routes out of debt.

    • All unsecured debts can be written off.
    • You will not be contacted by your creditors.
    What are the disadvantages of bankruptcy?
    • Assets such as your house or car may be included in the terms of your bankruptcy.

    • Your job may be affected, depending on circumstance.

    • Your credit rating will be affected.

    • Bankruptcy will remain on your credit file for six years.
     

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