Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. If you go bankrupt all your debts will form part of the bankruptcy. The effect is to wipe the slate clean and after one year you will be discharged.
Bankruptcy should not be ta***** *****ghtly however because it will effect your credit rating for 6 years and effect your ability to take directorships or professional appointments. Can I be of any further assistance? Kind regards AJ
well i got bad credit anyway, so got nothing to loose really, yes thats ok.. if its only 1 year its not so bad.. yes just one more question, if i moved flats for instance.. would i not be able to rent one, cos of the bankruptcy.. or after the year.. will my credit be ok again... thanks..
Hi, Thank you. Your credit rating will take about 6 years to recover all things being equal.
Whether you can rent a flat or not really depends on what checks the landlord conducts - they may either require a guaruantor or just simply a larger deposit as a result.
Kind regards AJ
thanks very much Alex, ill message you back if i need any more info,:)