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Debt linked to Depression | Serious Debt Solution Provider

Of course debt linked depression exists. Most ordinary people have felt it. Maxed out credit cards and overdraft facilities … payday loans … the spectre of County Court Judgements and foreclosures. It’s enough to drive someone over the edge. The fact is, people often misjudge situations and before you know it, they have a load of minimum payment facilities and no way of making it through the next month.

An Insolvency specialist is trained to limit damage, but sometimes the best solution is also the most straightforward – simply declare bankruptcy. Believe it or not, the right to a ‘fresh start’ following a bankruptcy is actually enshrined in the Insolvency Services’ Technical manual. Okay, if you’ve only got a few thousand outstanding there are probably better ways of dealing with it, but for those who have unmanageable debts, bankruptcy is almost certainly the best way forward.
debt linked depression

You might be surprised how many people tinker with the likes of IVAs and Debt management plans before taking the plunge, but these only serve to draw out the process by anything between 5 – 20 years. And during all of that time, your credit rating is ‘trashed’, you’re not worth a bean on the high street. Did you know that the average credit rating for someone who has been discharged from bankruptcy for just 18 months is 700 – 750 or ‘fair’?

Fear and pride are often the two things that stop us from making the right decision. In many cases, people just don’t know the facts surrounding bankruptcy. We’ve recently posted ‘Bankruptcy Myths … the definitive Guide’ on this website which debunks most of the nonsense. Give us a call if you still aren’t sure, we’ll gladly give you half an hour of our time.

Feel free to call us with any other bankruptcy questions or for bankruptcy help on 01425 600129.

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Bankruptcy UK-Debt Solution Bankruptcy Experts

Bankruptcy UK-Debt Solution Bankruptcy Experts