Learn about Bankruptcy

Will you lose your house?

There is a very high risk that you may lose your home if you declare yourself Bankrupt.

How the decision is made

Once you've successfully declared bankruptcy, the Official Receiver or Trustee is put in control of recovering as much money from your assets as possible and your house is likely to be one of the biggest assets you have.

If the Official Receiver thinks it's necessary to sell your house in order to pay back your debts, you may be able to apply to your local authority for re-housing.

Lower risk debt solutions

For most people, losing their home is the biggest concern when considering Bankruptcy. The other debt solutions we offer are not as extreme as Bankruptcy, and won't put your house and assets at the same level of risk.

Read our guides to IVAs, Trust Deeds, Debt Management Plans and Debt Relief Orders to see if any of them would be more suitable to your debt situation.