Bankruptcy Car Leasing
What is Bankruptcy?
This is a leagal term of a status of an entity or person whom are unable to repay debts which are owed to their creditors, bankruptcy varies depending on which country you are loacted in.
The pro's of bankruptcy
- Unsecured debts are all written off
- A quick way to clear all your debts, to enable you to make a fresh start
- You will no longer be chased by your creditors
The con's of bankruptcy
- Your credit history will show a bankruptcy for 6 years and will have a negative effect on your credit score
- Any assests you have may be included in your bankruptcy including your car or house
- You will not be bale to take a position as company director
- Your credit rating will be negatively effected, gaining credit within in the mainstream market will be almost impossible
If you are considering bankruptcy always seek professional help, as bankruptcy is a life changing decision
Can I lease a car with bankruptcy?
With UltraCar you can, we are looking at affordability and traceability, we do not look at credit scores.