(PRWEB) December 4, 2006
Debt help experts The Debt Counsellors have produced The Bankruptcy Report to provide an in-depth guide to bankruptcy for people in the UK with serious debt problems and insolvency issues.
Bankruptcy is a serious problem in the UK. Official Insolvency Statistics show that there were 14,915 bankruptcies in the second quarter of 2006, representing a year-on-year rise of 32.5%.
The Debt Counsellors' Bankruptcy Report aims to highlight the issue and help people with serious debts to understand the details and processes involved in bankruptcy and, if possible, avoid bankruptcy altogether.
The Bankruptcy Report dispels the myth that bankruptcy is an 'easy way out' of serious debt. In reality, going bankrupt puts key assets at risk and a bankrupt is subject to numerous financial restrictions (all detailed in the Report), not to mention public notices in the press and associated stigma.
The Bankruptcy Report also provides details of the alternatives to bankruptcy, such as the IVA, or Individual Voluntary Arrangement.
John Porter, a senior counsellor with The Debt Counsellors, says: "The Bankruptcy Report provides essential information for people worried about the prospect of bankruptcy and looking for more information on the options available to them.
"The Insolvency Statistics show that personal bankruptcy is a growing problem but in many cases of serious debt and insolvency, bankruptcy can be avoided. The Bankruptcy Report offers a first step in finding out how to achieve that. The Debt Counsellors also provide free, confidential advice on all kinds of debt problems."
For further advice and information on bankruptcy, visit http://www.debtcounsellors.co.uk/