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 bankruptcy postbag for june
 Investigating How the Debt was Incurred?
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Mancunian
Junior Member

181 Posts

Posted - 25 June 2008 :  15:08:33  Show Profile  Reply with Quote
hi all

when you go bankrupt I assume you have to show/ justify how the debt was incurred.

how do they judge things that are hard to prove/document? say foreign expenditure, gambling, drugs etc etc

thanks

Suzanne
Average Member



United Kingdom
869 Posts

Posted - 25 June 2008 :  16:16:16  Show Profile  Visit Suzanne's Homepage  Reply with Quote
Hi Mancunian
When you go bankrupt they will ask you for 6-12 months worth of statements. Any unexplained or large transactions will be investigated further by and investigating examiner and you will probably be interviewed a second time face to face.
If they are still not happy with your explanation they will apply for a BRO for failure to account or extravagance.

Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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