Who Deals With Bankruptcy Cases

During the bankruptcy process you may seek the advice of a financial counseling company. They will make sure you are prepared to speak to case officers, place your petition and help put your statement of affairs in order. Advisors usually book the court hearing for you. You are not required to seek advice, but in most cases it will make the process less stressful and more organized. There are many professional services available and it would be wise to look into using their advice and or service when preparing for a bankruptcy. Be sure to investigate the company you choose to use, there are many resources and you want to make sure you get the best advice and service available.

An officer of the Court also known as an Official Receiver is a civil servant that is responsible for administering bankruptcies. They will usually act as the Trustee of your estate unless a private sector Insolvency Practitioner is appointed. The Official Receiver sends notices, concerning your bankruptcy order, to the local authorities, utility suppliers, courts, sheriffs, bailiffs, banks and investment companies, insurance companies, solicitors, landlords, and any other persons or organizations who may be able to provide details of any of your assets or liabilities. Third parties will also be asked about any other matters relating to your bankruptcy. In most situations, your employer will not need to be contacted.

The Official Receiver is there to help you throughout the process, their duties do not end until after the bankruptcy has been discharged and all other details of the bankruptcy have been satisfied. It is very important that you fully co-operate with the Official Receiver through the entire process. One of the most important steps for an Official Receiver is to do a detailed investigation of your financial affairs.

The judge is ultimately there to grant, or deny the bankruptcy order. They rely on the Official Receiver to perform all duties they are required by the Court during the bankruptcy process. The Official Receiver will relay all information pertaining to the case and the judge makes all decisions based on this information in each individual case. Following being heard at court and the judge seeing the papers a bankruptcy order is made. Then bankruptcy restrictions are imposed on you for a period of up to 12 months. If you are not subjected to bankruptcy, it is expected that the Court would help you financially by setting up arrangements for your debts repayment. Sometimes, the amount of debt are reduced or even be written off.

It would be the county’s Civil Court that would be dealing with the bankruptcy. Not all Courts hear bankruptcy cases. The local County Court system is easily found in the telephone book or internet. If you seek financial counseling service for help they will be able to help you make sure you have the correct Court and paperwork ready. Courts may vary in how they process bankruptcies. The time it takes to get through the process may vary from one court to another.

Creditors actually have to agree to the terms of the bankruptcy. The Trustee has to decide if a meeting of creditors is necessary within 60 days of the bankruptcy petition. The creditors may vote to replace the Trustee. If a meeting is not called the creditors may request one. Other meetings can be called by the creditors at any time. Creditors may issue directions to a Trustee, but the trustee and other creditors have the right to appeal to the sheriff. At any meeting of creditors commissioners can be elected.

Bailiffs are rarely used. In some cases the Court may have a bailiff collect unpaid taxes. Creditors that choose to use bailiffs are no longer allowed to send them out once you have filed for bankruptcy. When a bailiff is used to collect any debts, they have strict guidelines that are expected to be followed.
You actually have the most important role in dealing with a bankruptcy. You must be sure to compile a complete and accurate list of debts, any liabilities, assets, and items of value to be presented to the Trustee or Official Receiver. You must be prepared to follow all directions, restrictions, and laws set forth to protect you upon entering bankruptcy.

You must be prepared to follow through with the intent of being able to start fresh with a new financial freedom that will allow you to ensure that you will not need to go through this process again. The objective of filing bankruptcy is to ultimately give those who have had a financial situation that was unforeseen a chance to restart life on a better financial path. This is not to be taken lightly, it is a very serious process that when needed can be the best financial decision you will make.

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