Major changes to the bankruptcy application process are coming into place on the 6th of April. From this date, individuals looking to enter into bankruptcy will no longer submit their applications through the court but will instead submit their application online via the gov.uk website.
The decision to move bankruptcy applications online is one of the reforms aimed to ensure people in financial difficulty get quick and appropriate solutions. It is envisioned that an online application process will encourage people who may otherwise be intimidated by the idea of going to court to apply for bankruptcy.
Bev Budsworth, managing director of The Debt Advisor commented: “We welcome a more simplified and streamlined process to bankruptcy application. We often find that many people are wary of going down the bankruptcy route, even if it’s the most suitable solution for them. We hope the new online service helps change the public’s perception of bankruptcy.”
Courts will not be accepting any bankruptcy applications after the 5th April. If a case has been adjourned on or before the 5th April, the case will continue to be dealt with by the court.
For more information on the bankruptcy application process, read through the bankruptcy section of our website.
If you are struggling with debt there are a range of debt solutions available for individuals struggling with debt and the right type of solution depends on your circumstances. If you are struggling, please do give our team a call on 0800 0851 825 or use our contact form. Our advisors can speak with you about all available debt solutions such as Debt Management, IVAs, Bankruptcy and Debt Consolidation.
All debt solutions need to be carefully considered. IVA’s are formal solutions and failure to keep to the terms can result in your IVA failing and you could end up bankrupt.
There is also free debt help and advice available through a variety of debt charities. For more information, we recommend you visit www.moneyadviceservice.org.uk.
The Debt Advisor is authorised and regulated by The Financial Conduct Authority (reg no: 606669). We are also a member of the Debt Resolution Forum and we adhere to their codes and standards.
