Frequently Asked Questions
I've been told I need to go bankrupt, might there be any other options?
We can have a chat and see what options are available to you, we always class bankruptcy as the last resort
Can my debts be written off if they are over 7 years old?
No, if they are your debts, then you are personally liable, regardless of how old they are.
When I die do all my debts die with me?
No they don't, they are paid off by your estate (ie. the money or assets you leave behind, before any gift are made to your loved ones).
Will my credit file be affected if I enter an arrangement with my creditors?
If you are already in debt and have missed some payments or made late payments your credit file will already be affected, by entering into an arrangement we would look at reducing damage limitation.
My debts have been sold on to a debt collection company what can I do?
No, if they are your debts, then you are personally liable, regardless of how old they are.
Am I responsible for my friends loan if I signed as a guarantor?
Yes you are equally responsible if you are a guarantor and if they default payment you are 100% liable.
Give us a call or pop in & see us, the kettle is always on!
If you need help, want to learn more about what we do, or just want a chat about your circumstances, we would love to hear from you.
Give us a call, send us an email, or pop in.
Debt Relief Solutions (CIC) Ltd
Authorised and Regulated by the FCA FRN: 625583
181 Church Road, Yardley, Birmingham B25 8UR Tel: 0333 240 0851 (local call rate)
Email: wills@robertshawandco.co.uk
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