call our free bankruptcy helpline on:
0800 690 6855
I went bankrupt a month ago and had a phone interview with the receiver. I am now being told I am being investigated due to the sale of a car I had previously owned and sold prior to going bankrupt. They seem to be very firm about this and say I could be under a restriction order.
The car was worth about £9000 and I used the money to pay a few bills and fund my bankruptcy.
What will happen to me???
Thanks in advance.
Backgroundinfo: I am struggling again and got into difficultly with bills and my rent etc
Your question: I was made bankrupt in feb last year unfortunately new to family reasons and illness I find myself in the position again where I can't meet every day costs can I make myself bankrupt again?
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.