Bankruptcy

The term bankruptcy applies only to individuals, not to companies or other legal entities. An individual may be made bankrupt only by court order.

Contents

  • Steps towards declaring Bankruptcy

    Declaring Bankruptcy puts across your inability to pay the debts you have taken even after they are due. There are few criterion and process that are required to be followed to file bankruptcy in UK.

  • Bankruptcy – Your Responsibilities and Restrictions

    Declaring bankruptcy is a means of expressing your inability to pay your debts, but that does not restrict your from shouldering responsibilities towards the whole process.

  • Bankruptcy - How and When it can end?

    The Bankruptcy term can be a period of 12 months following the date of declaration by court or can be reduced or extended or even annulled based on the various rules and laws.

  • State of assets held during Bankruptcy

    What is your state of assets held during Bankruptcy? To learn more read this impartial guide.

  • Bankruptcy - the role of the Official Receiver

    Once the court issues your bankruptcy order, it appoints an Official Receiver to look into your affairs in a balanced interest of both you and your creditors. Learn more about the role of OF here.

  • Bankruptcy Lawyers

    A bankruptcy lawyer can be hired in situations like administrations, liquidations, receiverships, company voluntary arrangements, bankruptcies and or IVA.

  • Bankruptcy – What happens to your pension?

    What happens to your pension when you are in Bankruptcy? Learn more on this guide.

  • Bankruptcy – A Guide

    Bankruptcy is defined as one’s inability to pay off his debts even after they have crossed their due date. Once you declare bankruptcy, your assets are sold or liquidated to repay your creditors.

  • What happens to your home in Bankruptcy?

    Your home is one major asset that the trustee will claim to repay the debts related to your bankruptcy.

  • Bankruptcy – How your debts are paid?

    As soon as you are declared bankrupt, all interests and ownerships on properties or assets solely owned by you will be claimed by the Official Receiver or the trustee to pay off the debts to your creditors.

  • Bankruptcy – How it affects you?

    Bankruptcy is one’s way of expressing his inability to pay off debts to his creditors. It is one solution with which you can write-off debts you are not able to pay by the end of the bankruptcy term.

  • What happens to your bank accounts and credit rating?

    Bankruptcy affects your assets in all form and this includes even your bank accounts and your building society accounts. Lear more here.

  • After Bankruptcy

    The decision to file bankruptcy is a huge one, especially due to the negative implications and the social stigma it causes. Learn more on this guide.

  • Are you staying in UK and Bankrupt

    Any citizen in UK can declare himself bankrupt, provided he meets the following criteria, please read on in this guide to learn more.

  • Bank accounts for discharged bankruptcy

    When you file for your bankruptcy, your bank will freeze your account or give you very limited facilities. In many cases, banks even close the accounts of the person who has filed a bankruptcy petition in the court.