Do's and Don'ts
Whilst considering which course of action to take, remember the following:
Do:
- Ensure you take advice from a qualified insolvency practitioner or their representative.
- When speaking to any of your creditors, make a note of any reference numbers and amounts owing.
- Keep any statements and chasing letters from your creditors, this will make it easier to put together a package to them and help you to gather an understanding as to the amounts you owe and any interest that is being charged.
- If any creditors take action against you, such as petitioning for your bankruptcy or sending the bailiff round, contact an Insolvency Practitioner as soon as possible.
- Be straight and honest with yourself and those around you.
Don’t:
- Think your problems will go away if you do nothing about them.
- Ignore any legal proceedings.
- Let your health suffer.
- Incur any additional debts.
- Pay any upfront fees for advice.
