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Common Bankruptcy Questions & Answers

Common Bankruptcy Questions & Answers (302)

Tuesday, 16 June 2009 03:56

What happens next?

Written by Jon
Question: I went bankrupt in August 2006 and have been relaesed from this. What happens next - how do i start getting a good credit rating?Answer: Once your bankruptcy has been discharged you can ...
Tuesday, 16 June 2009 03:54

Going bankrupt in UK from Canada

Written by Jon
Question: Hi I'm about to go bankrupt in the UK on June 17 by a creditor's petition and cannot fly to the UK to attend court- therefore I will automatically become bankrupt in the UK. I live in Ca ...
Tuesday, 16 June 2009 03:49

Bankrupcy and advice

Written by Jon
Question: Me and my husband are applying to go into a debt management plan at the moment as we have been told an IVA isnt suitable at the moment as we have a main debtor. Im a bit worried if the D ...
Sunday, 14 June 2009 03:45

Assets that can be siezed during bankruptcy

Written by Jon
Question: When I divorced my husband I left most household items behind and those I did take I sold to fund a business venture. I have since remarried and my husband moved in, bringing all of his ...
Saturday, 13 June 2009 04:47

Existing payment question

Written by Jon
Question: In addition to the question i asked before, I currently have 4 years to pay on a laptop, if i decide to go bankrupt, but before doing so, transfer the payment details to a basic bank acc ...
Saturday, 13 June 2009 04:45

Failing an IVA

Written by Jon
Question: Hi, I am currently 3 years 8 months into an IVA, and have been out of work since January 2008, and at this point it looks like my IVA will now be failed, leading to bankruptcy, if this i ...
Friday, 12 June 2009 07:40

Bankruptcy Fee

Written by Jon
Question: Do you pay the £350 fee "up front", before the hearing? And if, for whatever reason, the court didn't grant the bankruptcy, would you still pay the £350? Would you lose your ...
Friday, 12 June 2009 07:40

Bankruptcy Fee

Written by Jon
Question: Do you pay the £350 fee "up front", before the hearing? And if, for whatever reason, the court didn't grant the bankruptcy, would you still pay the £350? Would you lose your ...
Thursday, 11 June 2009 03:40

The scene you face at the bankruptcy hearing

Written by Jon
Question: What 'scene' do you face at the bankruptcy hearing? Is it a full-on, stood in the dock before a judge in a classic courtroom situation? Or is it more like a meeting with a court official ...
Wednesday, 10 June 2009 03:57

After bankrupcty

Written by Jon
Question: I was made bankrupt in Oct 08 and will be discharged by Oct 09. I am looking to leave my job and retrain by going back to university/college as I am quite unhappy in my current job. I cu ...
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If you have a serious debt problem, bankruptcy can free you from your debts within 12 months. As a solution for dealing with serious debt, bankruptcy is a last resort. Other debt solutions need to be explored first, to help determine if bankruptcy is the right debt solution for you.

 

Your financial affairs are put into the hands of an Official Receiver or Trustee, who will control all your assets - and if you own a property, this will also be included. These will be sold and the money used to pay as much as possible to your creditors.

 

There are consequences to bankruptcy which will affect your finances and work life. You may struggle to borrow money, for example, and will not be able to apply for certain jobs.

 

For some, bankruptcy is the right option and will put an end to pressure from creditors. Our team of experts are on hand to advise on the best solution to your debt problems - call now on 0800 002 9951.

 

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