What should I do if I'm facing bankruptcy?

If you're facing Bankruptcy, the first thing you need to do is to get advice from an impartial Debt Advisor who can explore whether any of the alternatives to Bankruptcy are appropriate for your circumstances.

If an IVA is appropriate then you can apply to your local County Court for an interim order, which prevents your creditors from presenting, or proceeding with, a Bankruptcy petition for the duration of the order (which is usually finite).

If a Debt Relief Order (DRO) is appropriate, and if a petition for you Bankruptcy has already been submitted, then you will either have to wait for the court to refer your case (if you petitioned) or get your creditor’s permission (if your creditor petitioned), as you cannot apply for a DRO whilst involved in any other formal insolvency procedure.

You can read more about Bankruptcy and whether it is suitable for your situation in our Bankruptcy section.

Debt Advice Foundation is a registered UK charity offering free, confidential support and advice on any aspect of debt, including Bankruptcy. If you're facing Bankruptcy or would like to discuss the alternatives, please call 0800 043 40 50. Our helpline advisors are available Monday to Friday 8am to 8pm and Saturday 9am to 5pm.