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0161 519 5510

What is Bankruptcy

You can apply for bankruptcy if you are unable to pay back your debt

How Bankruptcy Works

You can apply for your own bankruptcy application or someone you owe money to can also do this on your behalf

The 3 ways in which you can go bankrupt are

1. Applying for this yourself online
2. A creditor you owe money to can do this on your behalf
3. An IVA supervisor can petition for you to go bankrupt

Find out more below...


  • All of the debts entered are written off

    You may be discharged after 12 months

    Take away the pressure from creditors

  • The official receiver will take control of all your finances and assets and they would decide what happens with these

    Your credit file will be affected for 6 years

    To petition for your own bankruptcy it could cost £680 (all though you can pay in instalments)

    If they calculate you have disposable income they can ask you to pay this for up to 36 months.

    Bankruptcy can affect certain types of jobs.

  • The Money Advice Service is an important service set up by the Government. They provide free debt counseling, debt adjustment and credit information.

    Click here for more information

    What we can help with

    Loans & Overdrafts

    Catalogue and Store Cards

    Benefit Overpayments

    HMRC Debt

    Court Judgements

    Rent, Gas and Electricity arrears

    Credit Cards

    Council Tax Arrears

    0161 519 5510

    New Leaf Debt Advice Limited Registered Office Onward Chambers, Centenary House, 1 Centenary Way, Greater Manchester, M50 1RF, United Kingdom. Registered in England and Wales Registration number 12203002.Data Protection Registration Number ZA549249

    Trading address- 50 Barton Rd, The Granary, Worsley, Manchester M28 2EB

    Laura Stewart is authorised to act as an Insolvency Practitioner in the UK by The Insolvency Practitioners Association (IP Number 23590) Learn more:

    Subject to eligibility and acceptance. Fees Payable. Debt write off applies to unsecured debts only and on completion of an IVA. If your IVA fails, it could lead to Bankruptcy, although this is rare and alternatives may be available. Your ability to obtain credit will be affected for the medium to long term. Homeowners may be required to release the equity in their property, if unable to release equity and equity is available creditors may request an additional 12 months payments in compensation.

    New Leaf Debt Advice provides insolvency solutions to individuals, specialising in IVA. Advice and information on alternative options will be provided following an initial fact find where the individual(s) concerned meets the criteria for an IVA and wishes to pursue it further. All advice given on any alternative options is therefore provided in reasonable contemplation of an insolvency appointment.

    The Money Advice Service is a free service set up by the Government to help people make the most of their money. If you would like to learn more visit