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 bankruptcy postbag for february
 How long the whole process of bankruptcy take
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Junior Member

170 Posts

Posted - 23 February 2007 :  22:49:56  Show Profile  Reply with Quote
How long the whole process of bankruptcy take.I have accumilated enormous debts adding up to 100,000 £ through gambling.I have a secured loan and few personal loans and credit cards adding upto the amount i have mentioned.I am so frustated and helpless that i am planning to move to canada.Please advise me.I am especially worried about my profession as i am a doctor.Will there be a criminal case because of my gambling.will my professional reputation be affected in any way in terms of my registration with general medical council.I have been offered a job in canada and i am planning to move.please advise further action.

Junior Member

United Kingdom
267 Posts

Posted - 24 February 2007 :  11:09:02  Show Profile  Reply with Quote
Hello Dr. slart, I am not a BR professional just someone in the process of petitioning for a BR. You stated your debt was primarily caused through gambling. You will receive a BRU/BRO for anywhere from 2-15 years. Professionals please correct me if I am in error. What the BRU/BRO means is that you will remain under the restrictions of the BR for that length of time.

As for how long does it take. Well,you contact your local county courthouse and make an appointment. You fill in the insolvency application and with £475 cash you go to the courthouse on the day of your appointment. The judge will enter the room,a regular room NOT a court room. Only you and he will be present unless you bring a friend/significant other along for moral support. The judge wearing a suit NOT a robe and granny hair will ask if you have received professional advice.

YOU must have sought advice or he will NOT sign-off and you have just wasted £475! Okay, so he signs, you then leave that room and go to see a clerk who will then make you an appointment with the Official Receiver ( OR). The appointment will either be face-to-face or by telephone. Be honest with the OR, s/he will own your financial life until you have been discharged (12 months from judges approval or less) and maybe for 36 months more after if you have an IPA/IPO.

These are sort of an financial arrangement for no more than 3 years. It's the amount of money you have left after ALL living expenses have been deducted.I do mean ALL including, holidays, birthdays, newspapers, professional journals,etc. The OR can take up to 75% of this amount (the rest is yours)and give it to your creditors.The balance remaining after 3 years is written off. The OR is also the person who dispenses the BRU/BRO.

Total time it takes to be declared bankrupt is the amount of time it takes for you to see the judge and for him to sign-off (approve)your BR. The vast amount of time will be spent with the OR because s/he will go through your finances for the past 2 years with a fine tooth comb. The OR will want to know how you got yourself into such a financial mess, like I did as well (smile).

As for moving to Canada, I have no advice to give here except to contact canadian immigration and ask (anonymously) of course or use a pseudo-name, if one is declared bankrupt in the UK what bearing does this have on that person moving to Canada OR ask the professionals here. I do know the OR will need your address in Canada.

As for being a doctor and petitioning for bankruptcy contact a professional and seek advice on this.

Whatever you do DO NOT leave the UK with £100,000 indebtedness. If you go to Canada and live there for more than 36 months you will not be able to petition for bankruptcy in the UK. You also can't petition in Canada because it's UK debt.

A bankruptcy professional who can help you further will be along shortly. I didn't want you thinking you were being ignored so I replied. It's not a nice feeling inside to be in a state of panic and feel there is no one out there who understands. On this site, we do understand and offer support.

Good luck!

All I have left is my sense of humour.
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Junior Member

United Kingdom
112 Posts

Posted - 29 April 2009 :  14:31:37  Show Profile  Reply with Quote
Hi, I do believe that you can get someone over here to petition on your behalf....speak to an expert at at the side of the page, or to Paul below....i do beleive he will help in this urgent matter.

Paul Johns
Assisted Bankruptcy Specialists
Reviva UK

Real People ..... Real Debt Solutions
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Junior Member

United Kingdom
112 Posts

Posted - 15 May 2009 :  15:36:28  Show Profile  Reply with Quote
I didn`t post that above???....I`ve been cloned!!!.

can anyone answer how that happened please??
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