Having difficulty sleeping at night? Can’t focus at work? Never in all of the history of the UK has financial pressure been as difficult as it is now. For many credit card payments, mortgages, and car loans are putting a tight squeeze on every budget.
Why not consider bankruptcy?
Does bankruptcy hurt my credit rating?
Yes it does. Most credit bureaus will keep this information on file for at least 10 years
How will this affect my purchasing power in the future?
One can expect pay higher interest rates for items like homes and automobiles, yet even renting an apartment and getting a job might also be affected. But generally with in 3 to 4 years these restrictions will begin to relax.
What should I do?
Always consult an attorney before making these difficult choices. Do your homework and take as much free advice as you can before making your decision to file for bankruptcy.