Bankruptcy Help and Advice
Basik Money will provide you with advice and put you in touch with an Insolvency Practitioner. Bankruptcy can have serious financial implications so is often the last resort and is usually applied for when no meaningful alternative can be offered to creditors.
Basik Money will provide you with advice and put you in touch with an Insolvency Practitioner. A Debt Relief Order (DRO) is a formal insolvency process that can help you deal with your debts if you owe less than £20,000, don’t own your home and have little spare income.
DROs are available if you have assets of less than £1,000 (including a vehicle which must be worth no more than £1,000) and you owe less than £20,000. You must also have a disposable income of less than £50 per month.
Get in touch with Basik Money today to find out how we can help you.
Debt Relief Order Criteria
You cannot apply for a DRO if your creditors have applied to make you bankrupt but the hearing hasn’t yet taken place, unless your creditors agree that you can apply.