Bankruptcy FAQs
- What is bankruptcy?
- What happens when I go bankrupt?
- Is bankruptcy a better option than an IVA?
- If I decide to go bankrupt, what assets will I be able to keep?
- What will happen to my home?
- What are the ‘restrictions’ that will apply to me?
- How long will my bankruptcy last?
- I run my own business – what will happen when I go bankrupt?
- I am director of a limited company – what will happen if I go bankrupt?
- I am self-employed, but I don’t have any staff. What will happen when I go bankrupt?
- What will happen to my car?
- What about my income during the bankruptcy term – will I be able to keep it?
- What if my circumstances change during my bankruptcy term?
- Who is the Official Receiver?
- Who is the Trustee?
- What is the role of the Trustee?
- What is the difference between The Official Receiver and The Trustee?
- What if I don’t want to co-operate with the demands of The Official Receiver?
- What if I refuse the requests of the Trustee?
- What is an Asset?
- Is it true that my name will be printed in the local press?
- Is it true I won’t be allowed to have a bank account or a mobile phone contract once I’m bankrupt?
- I heard it is possible to get out of your bankruptcy early. How does this happen?
- I share a house with my husband. Can’t I simply put it in his name before going bankrupt?
- How long will my credit rating be affected for?
- Who deals with my bankruptcy?
- Will bankruptcy affect my job?
- Is bankruptcy really the right choice for me?
- I’ve filed for my bankruptcy petition. What happens now?
- What is an Income Payment Agreement (IPA)?
- What is an Income Payment Order (IPO)?
- How are IPAs and IPOs calculated?
- What is classed as ‘reasonable domestic expenses’?
- What is a Statement of Affairs?
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