Worried about going bankrupt? – now do it online!

A lot of people are worried about going bankrupt, often for the wrong reasons – the law and experience of bankruptcy aren’t what they used to be; they’re worried about the stigma; they are worried about appearing in fron of a judge.

Really, as long as people filled out their debtor’s petition abouit right – don’t you just hate that word ‘debtor’? – I know I do – they never appeared in front of the court, it was a closed door exercise while they sat in the waiting room – yet it will still probably be a long time before people realise it’s nowhere near as bad as you might think, as those who have gone through it recently are, in comparable terms, few and far between.  But finally there’s some movement on the court side…

Over recent years all aspects of government have been moving lock stock and barrel online in an effort to save costs and improve efficiency. Finally, after much talking, people with big financial problems are able to petition for their own bankruptcy online, there’s no need to go to court, thus one of the major obstacles that put off people doing what they really need to be doing has been removed.

Will we see more people going bankrupt now that they can sit at a computer and press a few buttons?  I suspect so, but not in great numbers because the stigma of bankruptcy aka ‘failure’ remains – it’s a British thing, tell any American how you feel and they will just laugh at you.

If you need to make yourself bankrupt, just go to https://www.gov.uk/apply-for-bankruptcy 

As you will see, it’s a https ie should be a safe address

If you’ve been putting it off and really ought to do it but have been worried abouit facing up to people, just do it!


Paul Brindley

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2 thoughts on “Worried about going bankrupt? – now do it online!

  • September 28, 2017 at 7:17 pm

    My brother bought a business before and little did we know that it’s a losing one. We’re now pulling together to make the business work and this article gave us hope. Next time, we’ll surely talk to a business broker before buying an asset for this to not happen again.

  • November 8, 2017 at 12:39 pm

    You should be talking to an experienced accountant, not a broker.

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