Bankruptcy is a Court procedure in which an individual debtor is pronounced bankrupt and a Trustee in Bankruptcy is appointed to release the assets of the debtor to pay the creditors.
A bankruptcy petition may be presented by the debtor themselves, or by one of the creditors. A debtor is normally discharged from bankruptcy after one year, and has no further liability for the bankruptcy debts.
At Buckles Solicitors, our personal insolvency department can help you. They can advise and assist you in all aspects of bankruptcy from assisting creditors in the process of petitioning to advising creditors on their rights and obligations once a bankruptcy order has been made. Aside from this, they can also advise on:
- Applications to set aside statutory demands
- Opposing bankruptcy petitions
- Applications to annual bankruptcy orders
- Applications to review, rescind or vary a bankruptcy order
- Restrictions and obligations of the bankrupt
- The effect of bankruptcy on the family home
If you would like to speak to one of our dedicated personal insolvency solicitors, please contact us on 01733 888888 or request a call back.
For more information please visit our FAQs page.