Myvesta: Mistakes made during bankruptcy

A financial advice firm is offering help to those who find themselves having to declare bankruptcy.

According to Myvesta UK, the service is aimed at assisting and advising people who have filed for bankruptcy without professional advice and consequently encounter problems.

These can include the mishandling of assets which could potentially be lost at a later stage and paying more to go through the legal process than is required.

“We are often contacted by individuals who have already gone through the bankruptcy process and are suffering from mistakes made during their bankruptcy,” said Myvesta’s chairman, Steve Rhode.

He added: “We saw a need to assist those individuals and created a support network they can call upon for expert guidance, assistance and answers.”

The firm intends to offer initial advice and then assistance throughout the process for up to one year.

Bankruptcy is defined as when an individual or organisation cannot repay loans to creditors and has to legally declare themselves as unable to do so. Following the declaration, the borrower’s debts can be reorganised or their assets liquidated.

© Adfero Ltd

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