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Common Bankruptcy Questions & Answers

Common Bankruptcy Questions & Answers (302)

Saturday, 18 July 2009 06:37

Wanting to Marry Whilst going Bankrupt

Written by Jon
Question: Hi, I'm about to petition for my own bankrupcy and my boyfriend has proposed. He has a lot of equity in his property which is mortgaged, has a high value vehicle and earns approx £ ...
Thursday, 16 July 2009 03:11

Charging Orders?

Written by Jon
Question: My daughter and ex husband are about to put their house on the market. She is making the monthly mortgage repayments and 2nd loan repayments. My husband paid the deposit of 40% for their ...
Thursday, 16 July 2009 03:09

Money from will

Written by Jon
Question: Whilst bankrupt, I was informed of money left to me in a will. Last August, my Bankruptcy was discharged after 6 months. Now a year later the money from the will is being paid out. Does ...
Tuesday, 14 July 2009 04:22

Credit Card Debt

Written by Jon
Question: If someone knows they are heading for bankruptcy what is to stop them withdrawing as much as possible in cash from credit cards prior to being declared bankrupt?Answer: There may be not ...
Tuesday, 14 July 2009 04:14

Self-employed / income

Written by Jon
Question: I am part self-employed and part employed and my income with both jobs varies with how many clients I have or how many hours work I do. When stating my income in declaring myself bankrup ...
Tuesday, 14 July 2009 04:09

Bankruptcy and Visas

Written by Jon
Question: Can you tell me whether being declared 'bankrupt' will have any impact on my getting a holiday or working visa or emigrating to australia in the future? Also, I may be eligible for a 'de ...
Friday, 10 July 2009 04:16

File for bankruptcy or not

Written by Jon
Question: I am a single mother working full time with no equity in my house. I have tried to negotiate with my creditors all of them being store cards and bank loan overdraft and visa all with the ...
Monday, 06 July 2009 05:45

Recently Discharged

Written by Jon
Question: Hi, I was discharged last week and I wanted to know exactly what this means other than I have been freed from my debts. 1. If I get a better job do I still have to tell the OR or should ...
Friday, 03 July 2009 08:10

Joint Ownership

Written by Jon
Question: I am considering going bankrupt. I am currently seperated from my wife, we have joint ownership of a house which is currently up for sale. the house is empty. my ex is not going bankrupt ...
Thursday, 25 June 2009 05:01

After IVA

Written by Jon
Question: I have been told that once I have completed my IVA that I will still have it on my record for 5 yrs; although I was told at the time of entering into it that it would be taken off 1 year ...
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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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