Council tax – bankruptcy
We can apply to the High Court to petition for you to be made bankrupt if your debt exceeds £5,000.
Bankruptcy is a serious matter. If you become bankrupt:
- you will have to give up any possessions of value and interest in your home
- your credit rating will be affected
- you will find it hard to get a loan or credit cards
- any business that you run will almost certainly be closed, and your employees will be dismissed
- certain restrictions will be imposed on you.