Your Bankruptcy

Your Bankruptcy

So, What Happens Now That You’ve Been Made Bankrupt?

After your creditor makes you Bankrupt, an ‘Official Receiver’ or ‘Trustee’ will be appointed. Their job is to take control of your assets and financial affairs and use these to pay anyone you owe money to.

The Official Receiver/Trustee will make contact with you to review and obtain more information on your conduct, finances and assets.

They will then oversee your Bankruptcy, repossessing and selling your assets and using your income to pay creditors.

It is at this point you need to ensure you are fully equipped to deal with the situation.

You must co-operate, and if you do not, you could be committing a criminal offence.

Your assets are at risk. That is why it is so important that you seek independent advice.

We have found that early communication on the client’s behalf allows for the ability to build a case and rapport with the Official Receiver or Trustee, as this allows for strategic negotiations to take place, positioning the client and their assets in the correct way.

If a creditor has made you Bankrupt, contact us to speak to an expert. You can call us on 0330 159 5820 or request a call back via the form above.

Below we have included a video of a recent case study where we assisted clients through their Bankruptcy and helped negotiate with the Trustee to write down the debt.