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 Hi I have been made bankrupt today. Friends and relatives will repay creditor. What do I do ?

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T O P I C    R E V I E W
Hon Posted - 09 May 2013 : 18:47:29
Hi I have been made bankrupt today. I regret leaving my money problems so late, but I have found friends and relatives to repay the creditor of what i owe which is £27,000 to HMRC. What do I do about this with the Official Receiver and when will they contact me?
5   L A T E S T    R E P L I E S    (Newest First)
Viki.W Posted - 11 May 2013 : 20:12:27
Hi Hon,

Sorry you've had to go through bankruptcy.

As Richard has said, it won't be a case of just repaying the debt now that you have been made bankrupt.

Do you have any assets at risk? Job at risk?




Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Niobe Posted - 11 May 2013 : 17:54:20
Let us know the situation and we can advise.

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant


Richard P Posted - 11 May 2013 : 17:52:03
HON

The debt now that you have been made bankrupt will be more than £27K as you will have to pay trustee fees

if you are borrowing money from friends and family to pay the £27K, can you afford to repay them ? please take advice as although no one wants to be made BR sometimes it is a blessing and it allows you to make a fresh start

outside of HMRC do you have other debts ?

Good Luck Richard,
pcoventry2 Posted - 10 May 2013 : 01:12:19
Welcome to the forum. great news that you have found people to help!

According to this site https://www.gov.uk/bankruptcy/when-does-bankruptcy-end yes you can - there is a free pdf to download. It talks about contacting the OR anyway so best for them to advise you. Not sure if the fees you paid would be returned. Probably not to be fair.

The OR usually contact you within t 7 days. It does say on the BR cert you are to go directly to them after leaving court but no one does - they usually contact you in the days after.
Niobe Posted - 09 May 2013 : 18:53:45
Hi and welcome to the forum.

If your relatives can pay off your debt then you can let the OR know and possibly get the BR annulled.

Is this your only debt?

The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant



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