What is bankruptcy? In this infographic learn the pros and cons of declaring bankruptcy, how to apply for bankruptcy, and resources to get advice. https://www.cvsltd.co.uk/how-car-leasing-works/bankruptcy/

1. W H A T I S B A N K R U P T C Y ?
One of your options if you have debt problems could be bankruptcy. You
can apply for bankruptcy if you can't repay your debts. In addition to being
able to make yourself bankrupt, a creditor (someone you owe money to)
can ask a court to make you bankrupt. A creditor can only do this if you
owe them at least £5000.
START APPLICATION ONLINE
www.gov.uk/apply-for-
bankruptcy
PROVIDE INFORMATION
wage slips
benefits or pension
statements
bills - for example, electricity,
credit card and council tax
letters from a bailiff or
enforcement agent
You’ll need to provide information
about your income, outgoings and
debts such as:
PAY THE FULL FEE
You cannot submit your
application until you’ve paid the
full fee of £680. (You can pay in
instalments.)
B A N K R U P T C Y
IN ENGLAND AND WALES
HOW TO APPLY FOR
BANKRUPTCY?
CVSLTD.CO.UK | THE HOME OF BAD CREDIT CAR LEASING
PROS OF BANKRUPTCY
GIVE
YOURSELF
A FRESH
START.
ALL
UNSECURED
DEBTS ARE
WRITTEN
OFF.
CREDITORS
WON'T
CONTACT
YOU.
ANY ASSETS
MAY BE
INCLUDED IN
YOUR
BANKRUPTCY
SUCH AS YOUR
HOUSE.
YOU WILL NOT
BE ABLE TO
ACT AS A
COMPANY
DIRECTOR.
BANKRUPTCY
WILL REMAIN
ON YOUR
CREDIT
HISTORY FOR
6 YEARS.
1
2
3
CONS OF BANKRUPTCY
C i t i z e n s A d v i c e | M o n e y A d v i c e S e r v i c e | N a t i o n a l D e b t l i n eBANKRUPTCY ADVICE