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Bankruptcy Questions

For more detailed answers to the Top 10 Bankruptcy Quick Questions please visit our FAQs or Bankruptcy Questions, but for now here are our Top 10 Bankruptcy Quick Questions:

Is it true that I no longer have to attend court for bankruptcy?

Correct, everything is done online now. The case is initially referred to the Adjudicator is Bankruptcy, who then passes it on to the Official Receiver as has always been the case.

Can I get a reduction on the £680 Bankruptcy Fee if I am unemployed?

No, everyone has to pay this fee regardless of circumstances.

Will I lose my job if I go bankrupt?

No, this won’t happen unless you are employed as a Solicitor, Mortgage Broker, Financial Adviser or similar position. Every day jobs (NHS, retail and office jobs) are not affected.

Will I lose my car if I go bankrupt?

Cars on finance will be lost, but you are otherwise allowed to have a car valued up to £1,000 provided it is needed for work or you are a Carer.

Does anyone come to my house if I go bankrupt?

No, nobody comes to your house at any stage to assess whether you have assets. Bailiffs do not form part of the bankruptcy procedure and will not arrive on your doorstep.

Will my Landlord be informed if I go bankrupt?

Yes, but this can be avoided if you produce a tenancy agreement and advise the Official Receiver that your tenancy may be under threat if your Landlord is informed.

Can I have a bank account if I go bankrupt?

Yes, this no longer an issue, though you will definitely not be able to keep an account that formed part of the bankruptcy e.g. a loan and overdraft was included.

Will I ever be able to get a mortgage if I go bankrupt?

Yes, it is now possible to get a mortgage three years after discharge, provided there has been no trouble in the interim.

Should I use a Solicitor for bankruptcy?

No, this will be too expensive, but it’s important that you seek advice as the online application is fraught with danger. The Income and Expenditure section has been designed to trip people up.

Will I have a monthly payment after bankruptcy?

This relates to the previous question, where a bodged Income and Expenditure will see you tied up in an Income Payments Agreement for three years. Call us, we know how to make this problem go away.

Feel free to call us on 01425 600129 for clarification on any of the above or for bankruptcy help.



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