Debt Management Wales, Cardiff, Newport

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Bankrupcy: Be Careful

If you decide to file for bankruptcy on your own you will be required to complete documents referring to your bankruptcy petition, one of which is 31 pages long. The guidance notes themselves are 14 pages long!

If you give misleading or false information, the Official Receiver can apply for you to be publicly examined in court. This process will scrutinise your finances in fine detail for the past five years and a further five years prior to that if they find anything wrong.

The maximum penalty is imprisonment, although this in unlikely for general consumer bankrupts.

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See how we have helped our clients with financial problems

Mrs DE of Cardiff had debts of £63,000 and were paying £1,700 per month to her creditors. We put her onto our Debt Management and with the agreement of her creditors she now only pays £410 per month

 

Mr and Mrs H of Gloucester had debts of £18,000 and were paying £486 per month to their creditors. We put them onto our Debt Management and they are now paying £130 per month.

 

Mrs CG of Swansea had debts of £22,000 and was paying £570 per months to
her creditors. We put her onto our Debt Management and she is now paying £220 per month. She also had a mortgage of £47,000 costing £471 per month
and a £11,000 second charge
mortgage of which were costing her £178 per month.
Even though she had poor credit history and a CCJ we were able to remortgage her, saving her £156 per month.

 

 
Find out what our clients have said!
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