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What is Bankruptcy

The Facts about Bankruptcy
Key bankruptcy facts you need to know. It lasts just 1 year. You only pay your debt if you can afford to. You keep most of your belongings. Your credit rating is affected but not for ever.
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Do you have to sell your household belongings if you go Bankrupt? What about your car? What about your pension or life insurance? Are work tools exempt?
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Most myths surrounding Bankruptcy are incorrect: You can keep your belongings. Property is not automatically at risk. You can get credit again in the future.
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What does it really mean to go Bankrupt? How much does it cost? How long does the bankruptcy process last? What alternative solutions are available?
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