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Choosing Bankruptcy Services That Are Right For You

This is a sponsored guest post from Debt Advisory Line.


When it comes to bankruptcy, most people feel completely alone. It is cold comfort that you’re not the only one entering into insolvency; in fact, bankruptcy numbers have steadily risen for a long time and three million households in the UK alone are facing massive debt problems. There may even be family members or friends of yours facing the same issues. When you’re in need of advice, it is essential to be able to rely on bankruptcy services from people who won’t just treat you as a number, but will genuinely be interested in helping you out.

This is especially true since the market for bankruptcy services has become confusing and impenetrable but for a handful of specialists. Today, there are hundreds of professional debt management companies and a large number of charities offering advice on bankruptcy. All of them have picture-perfect websites, profess to care for you and your financial difficulties, and seem to be offering identical services. No wonder, then, that so many UK citizens are giving up on even trying to work their way through the maze and simply surrendering to insolvency instead. This is a grave mistake. Many experts in the bankruptcy services sector are still amazed by how few people are actually aware of alternatives to bankruptcy like individual voluntary arrangements, debt relief orders or debt management plans.

But that isn’t all. An important aspect of advice on bankruptcy consists in explaining exactly what bankruptcy actually entails. After all, although a personal insolvency is still widely regarded as a tragedy – and its effects are undeniably severe – it is by no means intended as a castigatory measure. You don’t so much enter into bankruptcy punishment, but into bankruptcy protection, after all, which means that as part of the terms of the agreement, your creditors will no longer be able to directly access your funds and belongings. As ironic as it may seem, the first day of bankruptcy often feels like a fresh start, since it effectively ends the constant threats and hassle from creditors. Which is not to say that you should enter into insolvency with a carefree attitude and without thorough reflection. But it does mean that you should consider it a viable option, rather than a threat to be avoided at all cost.

Bankruptcy services are not just about informing you about the consequences of insolvency. They are also about avoiding them. Plenty of people are looking for bankruptcy services, although they would be much better off with a sensible debt management strategy. Others have simply lost track of their financial status and just need someone to assist them with gaining a clearer picture of their earning and spending patterns. In cases like these, advice on bankruptcy consists in assessing the status quo, summing up the possible measures, and then supporting you in taking the necessary steps.

All of this means that bankruptcy advice through a professional debt management company is essential. Looking for suitable experts on Google will yield myriads of results. But only a handful of them adhere to the code of conduct as set out by DEMSA, which aims to protect the interests of both consumers and creditors. The Debt Advisory Line is among the most renowned of these companies and is an excellent choice if you’re looking for impartial bankruptcy advice.

About Andrea Whitmer

Andrea is a freelance web developer and mom trying to maintain a sense of humor in an otherwise chaotic world. She blogs in hopes of helping others avoid the same mistakes she made in the past. Join in the discussion here on So Over This, or connect on Twitter, Pinterest, Instagram, or Google Plus. You can also subscribe to new posts via RSS so you never miss out!

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