If you are in financial trouble seeking good quality bankruptcy advice is important. You need to find out what your options are. Bankruptcy is a big step to take and it may not help you very much. Therefore, you need to get the right advice before proceeding with it.
The Best Bankruptcy Advice
The best bankruptcy advice is to be found in the independent finance sector. They offer truly impartial advice. Taking advice about bankruptcy from a party that will be affected directly by your decision, for example, someone you owe money to is not a good idea. In fact, most of the people and organisations you owe money to are likely to try to talk you out of going bankrupt because it clears what you owe them.
Finding the Best Bankruptcy Advice
When it comes to advice about managing debt, it is important to seek out an experienced firm. The more well established the firm is and the more people they have helped the better it is for you. This means that they know which options work best when it comes to debt.
The fact they are a well-established firm is a good sign. If they have been in business for several years, it is usually because they offer a good service. Those firms who only offer a mediocre service tend to go out of business pretty quickly.
If you can find a firm that is a member of DEMSA (Debt Managers Standards Association) consider using them. DEMSA was formed in 2000 to promote good practice for the debt management industry. All of its members adhere to their code of conduct, which ensures people who are seeking advice get the best advice possible. This code of conduct was drawn up in conjunction with The Office of Fair Trading (OFT).
For this reason, you know if you seek bankruptcy advice from a DEMSA member you are going to get advice that favours you rather than anyone else. Even if you use a good firm, do not rush into anything. Take your time, consider all of your options and remember to look at and consider the long-term impact bankruptcy will have on your life.
