Areas of Law / Bankruptcy Debt

A few years ago my husband was taken seriously ill and had to give up his job. We have sunk deeper and deeper into debt, and now owe more than £50,000 on credit cards with no chance of paying them off. Would our creditors make us bankrupt if we tell them the situation?

If you do nothing it’s likely that you will eventually receive County Court claims and incur legal fees which you will also become responsible for. I suggest you take advice immediately: there are a number of free debt counselling services, including The Citizen’s Advice Bureau. They will negotiate with your creditors so that you can perhaps pay back a manageable amount. Most creditors would prefer to receive something, however small, rather than nothing at all but bankruptcy may be your best option.

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