Advice on bankruptcy could help with financial resolutions

Published on January 4, 2013 by Crawfords Accounting

Advice on bankruptcy could help some of the most financially troubled Brits to follow through with their New Year’s Resolutions in 2013.

While bankruptcy should not be seen as an easy option, for people living on the very edge of affordability – and beyond – it can be the right decision.

According to figures from, 34% of people have resolved to sort out their finances in 2013, and the breakdown shows that debt and expenditure rank as higher concerns than savings.

Some 43% of financial resolutions relate to reducing outgoings, and 28% to clearing debt; by contrast, just 26% hope to increase their savings balance, and only 11% plan to boost their pensions this year.

Fellow comparison site has also published data, this time showing that 17% of Britons are still clearing debts they acquired in the run-up to Christmas 2011, while 19% have credit card debts of more than £5,000.

If your debts are causing severe financial difficulties, we can give you advice on bankruptcy – including whether it is right for your circumstances, and how to proceed with bankruptcy arrangements to get your finances back on track.

And while it may take more than a year to do so, you could look back in the future and see 2013 as the year you took action to get your life back on track.


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