How Your Enemy Can Bankrupt You Online for £360
Are you currently embroiled in a bitter feud? Are you looking for a fiendish, dastardly way to hit them where it hurts? Well, probably not. If you were however, you’d be able to go straight for their financial security.
Under the Government’s proposed scheme, which will allow individuals to file for a DIY bankruptcy online, a bit of identity theft and £360 would let you bankrupt your sworn enemy, or let them bankrupt you. Although such soap-opera styled, pantomime villainy might seem a bit far fetched, it does actually make you think about the security of our finances.
The proposal for self-service insolvency has arisen in response to the mounting backlog of bankruptcy applications that are waiting to be processed through the UK courts. It will have its benefits for those people who wish to declare themselves bankrupt. Firstly, they’ll be able to avoid the court process and the long wait that goes with it. In fact, for parts of England and Wales the wait can be as long as three months between making the initial application and being granted a bankruptcy order. For people in a highly serious situation, facing the stress of mounting debt and severe financial difficulties, this is a huge amount of time to wait for the injunction that can save them from their creditors. Naturally, these new measures are intended to cut this highly stressful and potentially damaging waiting time from months to days.
There is cause for alarm though. The threat of malicious bankruptcies, in which blameless victims could find themselves unexpectedly bankrupt at the hands of spiteful, identity thieving impersonators, is real and should emphasise the vital importance of tight security. As we are all aware, identity theft is something that we all have to be vigilant about. The first sign to the unsuspecting victim would know be the broad based shutting down of their financial affairs. They would risk losing their home and other valuable assets; borrowing would become hugely difficult and incredibly expensive; and they could well lose their job if theirs is a profession which precludes those subject to a bankruptcy order.
As severe as the situation is, there is also the fear that there will be people who make an application without proper consideration of the consequences. As there is no requirement for anyone to take professional advice before making their application, unnecessary or ill-advised applications could become commonplace. Essentially, there is nothing to stop you getting back from the pub and deciding to file for bankruptcy, then waking up in the morning and wishing you hadn’t. For such a serious financial process, the most severe debt solution on the market, it’s very important to talk the situation through with an impartial debt advisor. If you’re worried about your financial health, www.debtsolver.co.uk offer free, no obligation debt checkups. From this, one of their dedicated financial advisors will be able to diagnose your debt and prescribe the proper debt solution to suit you. If this is bankruptcy, they’ll support you through the process, if your situation is more suited to an alternative debt solution, they’ll advise you of your options.
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