Breeze Finance

Bankruptcy

Past or impending bankruptcy is not an obstacle to Breeze Finance who can usually arrange a loan or debt management programme for clients in order to avoid falling into the Bankruptcy trap or indeed help them recover their financial freedom after discharge.

If you have already been made bankrupt we can certainly help you to raise finance from the day you are discharged and may even with the co-operation of the receiver be able to arrange funding for the repayment and full early discharge of the order.

Remember at all times that as far as your credit rating is concerned Bankruptcy is probably the worst thing that can happen to you.

In many instances we at Breeze Finance can help you avoid Bankruptcy altogether, too often we see people who have fallen into the Bankruptcy trap who should never have come anywhere near to bankruptcy. We have many less traumatic solutions available including debt management, debt consolidation and IVA programs that are easily set up and accessible to almost everyone.
 

Avoiding Bankruptcy

Bankruptcy is something you should try to avoid at all costs. If you are declared bankrupt, the consequences can be far-reaching and may lead to the loss of your home, a feeling of humiliation, and ongoing problems obtaining credit in the future.

A bankruptcy is always advertised, both in the London Gazette and the local papers in your area. In addition your bank, building society, creditors, landlord, mortgage lender, and anyone else with whom you have a financial connection will be notified immediately.

You may lose your home if the Official Receiver or trustee decides to sell it to clear your debts.

A bankrupt person is not allowed to run a business, so any business or company you run will have to be shut down as soon as you are declared bankrupt.

Your bank accounts will have to be closed and any goods you have on hire purchase, such as a car, will have to be returned.

In addition, any assets that you acquire during the time you are bankrupt can be taken away.

Depending on your profession, you may lose your job as a result of being declared bankrupt and/or be barred from membership of certain professional associations or trade bodies.

Even once you have been discharged from bankruptcy, your ability to obtain a mortgage or get other forms of loans or credit may be affected for several years.

If you own your own home and have sufficient equity in the property, then there is a good chance that you can avoid bankruptcy by arranging a remortgage  or consolidation loan to pay off your creditors and clear your outstanding debts.