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| Sarah.03 |
Posted - 29 March 2010 : 14:59:14
Can I be sent to prison for declaring myself bankrupt? |
| 5 L A T E S T R E P L I E S (Newest First) |
| Housing |
Posted - 29 March 2010 : 21:23:19
Ha ha ha,
Very good Daniel
American Express have returned to those days - and so have Egg!!
regards, Richard
quote:
Originally posted by Daniel Griffiths
Back in Romans times under the laws of the twelve tables creditors were quite literally given their pound of flesh, they could cut up the debtors body into pieces and divided it according to their individual claims, it was not untill the seventeenth-eighteen century that we became more civilized that the debtor was put in stocks for two hours with his ear nailed to the same before it was cut off for him to be set free. I think American Express would like to return to those days.
"There are no problems - only solutions" |
| Daniel Griffiths |
Posted - 29 March 2010 : 20:41:38
Back in Romans times under the laws of the twelve tables creditors were quite literally given their pound of flesh, they could cut up the debtors body into pieces and divided it according to their individual claims, it was not untill the seventeenth-eighteen century that we became more civilized that the debtor was put in stocks for two hours with his ear nailed to the same before it was cut off for him to be set free. I think American Express would like to return to those days. |
| Bridgewood |
Posted - 29 March 2010 : 15:46:39
Hi Sarah
As the previous posts have made clear - you won't be sent to prison for being made bankrupt - whether you file your own petition, or someone else makes you bankrupt.
From what little I remember of reading Dickens at school it was abolished in or around the late 1800's that you would automatically be locked up for being unable to pay your debts.
Nowadays, there are some offences which could result in a prison sentence, but they are not to do with being in debt, they are mainly to do with how you obtained the debt (i.e. usually down to fraud)
In most cases the worst that would happen is that you would be subjected to a bankruptcy restriction order in cases where the OR believes the bankrupt has been dishonest or deliberately deceptive or fraudulent - it can last for anything up to 15 years in the worst cases, and, in theory, if you then contravened the BRO you could be locked up
As a general guide, BRO's are made where the bankrupt has deliberately incurred debt that they knew they couldn't repay, tried to put their assets beyond the reach of creditors, committed serious frauds, lost significant amounts through gambling, deliberately tried to mislead the OR or creditors etc
They don't apply in most cases |
| xmas baby |
Posted - 29 March 2010 : 15:26:19
God forbid. Could you imagine how many prisons would be needed? In Victorian times, then yes we would have ended up in debtor's prison, but thankfully, in this day and age, it is not a criminal offence, so don't worry.
I would imagine the only way you could end up with a prison sentence is if you declare bankruptcy and it can be proved that major fraud was involved. I'm sure someone else more savvy about this will be along to put your mind at rest.
What made you think bankrutpcy may result in a prison sentence anyway?
xmas baby |
| Richard P |
Posted - 29 March 2010 : 15:22:36
Hi Sarah
absolutly not for declaring your self bank rupt
Debtors prison is a thing of the past
However if you deliberatly lie on your petition you could comit the offence of deception or obtaining a precunary advantage.
A straight forward bankruptcy that you have provived the information to the best of your knowledge and belief IS not a criminal offence
hope that helps Richard
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