For some people, Bankruptcy is the best solution to help deal with their financial problems. For those that fit the Bankruptcy criteria, the process can seem long and, sometimes, confusing.
With the correct guidance the process can be a lot less stressful, so here is a brief guide to help you understand the process.
The first part to the process is to locate your local County Court and contact them to request an application form. You would also need to confirm with them the court fee. To locate your county court, you can either look up under Courts in the phone book or visit http://hmctscourtfinder.justice.gov.uk/HMCTS/ to find your nearest court. You can also visit http://www.bis.gov.uk/insolvency/About-us/forms/england-and-wales to download the forms, they are forms 6.27 and 6.28
Once you have received your application form you will need to make an appointment to attend court. You would always need to attend court in person as you will need to present your completed forms to the judge. Whilst at the court you will be required to make your payment for Bankruptcy including court fee and an administration fee.
Once you have attended court, you will then be assigned an Official Receiver. Your Official Receiver or OR will then work with you to determine how long Bankruptcy will last, how much your contributions will be and how much your assets are worth.
For more information about what Bankruptcy is then please click here or visit your local Citizens Advice Bureau.
Written by Gemma on April 25th, 2012
Filed Under debt help | Trackback | Leave a Comment
Posted in: 
0 comments:
Post a Comment