Generally you will be automatically discharged from bankruptcy after a maximum of 12 months. This period will be shorter if the Official Receiver concludes his enquiries into your affairs sooner and files a notice in court. You will automatically become free from bankruptcy if the court annuls (cancels) the bankruptcy order. This would normally be where [...]
Archive for May, 2006
When a bankruptcy order has been made against you, you must do all the following things:
Provide information about your financial affairs to the Official Receiver. (The court will give you the address and telephone number of the Official Receiver.) You will need to contact the Official Receiver as soon as possible once the bankruptcy [...]
The Official Receiver, who is a civil servant in The Insolvency Service and an officer of the court, will be responsible for administering your bankruptcy and protecting your assets from the date of the bankruptcy order. He or she will act as your trustee in bankruptcy unless the court appoints an insolvency practitioner to take [...]
The court will either hear your petition straight away or arrange a time for the court to consider it.
If English is not your first language and you need an interpreter, the court will not be able to help you find one. You will have to do this yourself and pay the interpreter's fees.
At [...]
Not all courts can deal with bankruptcy matters. Bankruptcy petitions can be presented at the High Court in London, or in a county court that deals with bankruptcy matters. Generally, you should take your petition for bankruptcy to the court that deals with the area where you have lived or traded for the longest period [...]
You may have to pay 3 fees when you take your petition and statement of affairs to court:
The court fee of £150. In some circumstances the court may waive this fee; for example, if you are on Income Support. If you are not sure whether you qualify for a reduction in the fee or [...]
First, you will need to complete the following forms. You can get the forms, free of charge, from a local court that deals with bankruptcy. You can also complete the forms on-line or print the forms off at The Insolvency Service's website.
The petition (Insolvency Rules 1986 form 6.27) - this form is your request [...]
The alternatives to bankruptcy are:
Informal arrangement - You could consider writing to all your creditors to see if you can reach a compromise. Include a timetable of when you will repay them. Informal arrangments include debt management plans that are commonly offered by assistance organisations and do not provide the most effective solution.
Individual voluntary [...]
Before you take any action to apply for your own bankruptcy, you should get your own legal or financial advice about bankruptcy and the other options available to you. The Insolvency Service and the courts cannot advise you on specific insolvency problems; for example, whether you should go bankrupt or your company should go into [...]
