Published in Debt Advice Features on Saturday, February 03 2007

Getting advice on bankruptcy may seem relatively easy, I could just go on the internet and type bankruptcy “advice” on the Google search engine or the other search engines failing that I could ring any number of the advice companies found in the Yellow Pages or that advertise on the television and ask them for bankruptcy advice, sounds easy but is it really?

If you search for bankruptcy advice on the internet you could find yourself overwhelmed by a hundred maybe thousands of websites all battling for the top spot on the search engines, some of the websites maybe out of date and often are, in addition to that who is giving you accurate information and more importantly the right advice.

When it comes to contacting “advice” companies through either the adverts on the television, national newspaper or in the Yellow Pages, many of these companies cannot give accurate advice on bankruptcy, many of these companies solely deal with one particular solution whether that be a debt management plan or any other solution other than you getting bankruptcy advice, granted you may feel that bankruptcy is the only debt solution for you and that is what you feel is best, however if you did contact a company and was advised a debt management plan when clearly it would take you over 20 years to pay the debt back then clearly it wouldn’t be the best option.

All in all is can be very difficult to get any specific debt advice if it is bankruptcy advice your looking for, if you do contact a “real” debt advice company and not a debt management company then the advice company should be able to advise on all routes out of debt, you would need to be prepared to carry out an assessment to allow the advice company to understand your financial position and then from there they should be able to advise on what they think the best solution could be for you, if it is bankruptcy advice then they should not hesitate to give this advice, but if you thought that bankruptcy was the best option and it wasn’t then making yourself bankrupt without getting advice on what the affects of bankruptcy would do to you when it is not the best route to take it could have been a monumental mistake, even if you are advised to go bankrupt or not to go bankrupt, either way you have received bankruptcy advice.

Insolvency Service Website