A London bankruptcy may be able to help you reduce your debt load once bankruptcy proceedings are underway. This debt relief, however, does not come without a price. You will have to give up a considerable number of valuable assets and need to contend with a reset credit rating that you will subsequently have to rebuild. Aside from this, financial information kept by The Office of the Superintendent for Bankruptcy may render you ineligible for loans and credit from lenders you wish to work with for some time. Know more about the effects of bankruptcy on your finances by talking to a financial advisor or bankruptcy trustee.