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iain01
Starting Member
2 Posts |
 Posted - 17 December 2009 : 13:40:25
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Do I require a solicitor to declare myself bankrupt? How do you contact the companies you owe money to tell them the situation?
Kind regards
Iain |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 17 December 2009 : 13:53:55
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Hello Iain,
Welcome to the Forum.
A good question and generally, I would say no, you do not need a solicitor to petition for Bankruptcy. (There are, of course, complex cases and that breaks the norm). At the moment we do not know much about your circumstances.
What I would say is to seek good advice from an insolvency specialist so that you can look at all the options and Bankruptcy is only one option. There are amongst the best insolvency experts oin the UK that post on this forum and I feel sure one will come back with some advice.
The rules for bankruptcy are set out in this forum (to the left of the screen). That is a good starting point. Bankruptcy is a serious road to travel with lots of twists and turns! I took it and it was right for me, but still scary in places!
You can look at the Insolvency website and that will tell you a whole lot about the process for BR (www.insolvency.gov.uk)
As to how do you inform the creditors you owe money to - that would be done through your bankruptcy petition on what is called a Statement of Affairs (SOA). Again, before you go down the road, get a professional to look at your position - that will not cost you anything.
I am not an insolvency expert, so I will not venture down the route of trying to advise you as I am not qualified to do so.
Whatever you do, think hard and I do wish you luck. For many bankruptcy is right - sometimes it is not the best route - so take that free advice. ichard
"There are no problems - only solutions..." |
Edited by - Housing on 17 December 2009 13:55:29 |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 17 December 2009 : 14:30:24
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Hi Iain
welcome to the forum
i would suggest that rather than getting any solicitor, I would find a specialist in the field but you do not need a solicitor, most solicitors pass the work out to specialised bankruptcy firms
The bankruptcy process can be straight forward but their are so many hidden obstacles and barriers, some serious pitfalls which could effect your long term well being.
My advice to anyone considering BR is speak to one of the forum experts, give them a detailed account of your scenario and then consider your options with informed choice not guess work
good luck and once again welcome to the forum Richard |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 17 December 2009 : 19:52:24
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You can fill in the forms online yourself via the link which Housing posted. You can save them as you go along and of course the forum is here to help you.
That way you will only end up paying the court fees, nothing else.
The glimmer gets brighter all the time
Jan
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 17 December 2009 : 22:13:44
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Hi,
I hope that the advice today has been helpful
Good luck and come back for more assitance.
In the meantime, best regards, Richard
"There are no problems - only solutions..." |
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Do I require solicitor to declare myself bankrupt
