Thursday Dec 05, 2024

What is Bankruptcy

This episode we explain bankruptcy, a legal process for individuals and businesses unable to repay debts. It details the two main types of bankruptcy in the UK, Chapter 7 (liquidation) and Chapter 13 (reorganisation), outlining their requirements and processes. The article also covers the benefits of bankruptcy, such as debt relief and creditor protection, and the steps involved, including credit counselling and a meeting of creditors. Finally, it emphasises seeking professional advice before filing for bankruptcy.

Comments (0)

To leave or reply to comments, please download free Podbean or

No Comments

Todd Davis and Kia Thompson

Podcast Powered By Podbean

Version: 20241125