Adrian Slater

Director and Solicitor


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To be declared bankrupt, a court has to issue a bankruptcy order against you.

This is only applicable for individuals, not businesses and can happen for two reasons; you can either apply to a court if you are unable to pay your debts, or your creditors can apply to make you bankrupt if you owe them more than £750.

If you are made bankrupt, your assets can be realised in order to pay your creditors. You will need to follow certain rules, such as not being able to manage a business with a different name without telling business partners that you are bankrupt. You will not be able to obtain credit for more than £500 without declaring your bankruptcy status. You will need to co-operate with both the Official Receiver and any Trustee in Bankruptcy who may be appointed to manage your bankriptcy estate.

Your details will also be published on the Individual Insolvency Register. In most cases, after 12 months you will be discharged automatically from your bankruptcy.

In cases whereby an individual's conduct is deemed to have resulted in the bankruptcy, and been reckless or dishobnest, he or she may face Bankruptcy Restriction Order (BRO) Proceedings. A BRO can extend the limitations on a bankrupt individual's activities well beyond the standard 12 month period.

If you or a family member is struggling to pay their debts we can assess your situation and advise you further. Similarly if you or a family member has been made bankrupt we can assist and consider what course of action, including annulment, is appropriate.

You may share a home or other asset with an individual who has become bankrupt. In these circumstances the Trustee in Bankruptcy can seek to realise his or her interest in the asset. We can advise you on the best course of action for your circumstances. 

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