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T O P I C R E V I E W
kath69
Posted - 20 September 2008 : 22:21:17 i have had a bankruptcy petition served on me what do i do
2 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 20 September 2008 : 22:34:33 Hi kath69 and welcome to the forum.
Do you mean a creditor has written to you and it says on the top of the letter "bankruptcy proceedings"
OR have you been served with a Statutory Demand.
If it is the latter you will have 18 days in which to defend the position . After 21 days the creditor is able to petition for your bankruptcy.
Couple of things to remember.
1. as an individual you must owe them £750 or more 2. it will cost them around £2000 to petition for your Br with court costs and soliciotrs fees. 3. Often creditors use the serving of a petition to scare you sensless and get you around the table to talk about repayments.
maybe you could let us know how much it is for, by whom ( some creditors use this tactic more often than others ), is it a formal Statutory demand or a letter.
with more info we can advise more accurately.
Paul Johns Assisted Bankruptcy Specialists Reviva UK www.revivauk.com
BankruptC
Posted - 20 September 2008 : 22:33:00 Hi kath and welcome to the forum!
I'm sorry I don't really know how bankruptcy works if it's a creditors petition as I declared myself bankrupt. Someone will be along soon to give you some advice I'm sure.
