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Tuesday
Jul272010

UK Insolvency Helpline Points to Importance of Getting Proper Information Before Declaring Bankruptc

The UK Insolvency Helpline has a very important task on its hands – particularly in the current climate.  The recent recession has left many people in dire financial straits, and for some the only way out can be bankruptcy.

Of course this is a major decision and move to make.  Thus it is very important that you have exhausted all the other options before you go for this option.

This is why I was delighted to read the good advice given by those at the UK Insolvency Helpline on their website recently.  I fear that some people see bankruptcy as the easy way out, when in fact nothing could be further from the truth.  Even if you feel there is no other way out of your personal financial situation, you must make sure that you have got all the information you need to make the right decision.

The UK Insolvency Helpline is there to assist people in working out what their next move should be.  Sometimes it can be the case that bankruptcy can be avoided by taking certain other steps instead.  Their website gives more information and advice about the IVA for example.  This is an Individual Voluntary Arrangement and it can be entered into to avoid going down the bankruptcy route.  The website has full details of all aspects of personal financial insolvency, no matter how bad things are for you.  Make sure you take all the advice they can give you if you have concerns over your situation.

If you wish to enlist the services of a qualified accountant to help you with your taxes in the future, contact us at St Matthew now for advice.

 



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