Bankruptcy – what does it mean?

Bankruptcy is one way of dealing with debts you can’t pay. Your assets can be used to pay your creditors (people you owe money to). You are subject to certain restrictions and discharged (freed) from your debts after a period of time.

Getting help and advice

There may be other ways to deal with your debts. Get free and independent debt advice to make sure you understand how bankruptcy can affect your home, business and credit rating and if there are other ways you can deal with your debt problem.

• Dealing with debt problems - a guide

• Debt - where to get free help and advice

• Debt repayment options - a guide