Bankruptcy is an instant procedure allowing you to file a petition at your local county court for bankruptcy.

Your file is then placed in the hands of an Official Receiver or an Individual Trustee in bankruptcy (a licensed Insolvency Practitioner).

The Trustee takes control of your assets, including freezing your bank account(s) and it is his job to recover as much from your personal estate for the benefit of your creditors.

Your bankruptcy will be lodged in your local newspaper so that everyone you owe money to, have been advised of your bankruptcy.

It is also the duty of the Trustee or Official Receiver to deal with your conduct as to how your debt was incurred and over what period of time.

There are other restrictions enforceable in bankruptcy and it is the job of your Trustee to make sure these are adhered to

Ways to become Debt Free
IVA
Debt Management
Debt Consolidation
Remortgage