| Author |
 Topic  |
|
|
Gail.06
Starting Member
5 Posts |
 Posted - 25 May 2010 : 17:04:36
|
| How long does it take the bankruptcy order to go through, and until it does can the bailiffs still come to our door |
|
|
Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 25 May 2010 : 18:29:50
|
Hi Gail
If you are petitioning yourself, you will be made bankrupt at the time the judge signs the order, you walk away from court with the order.
Once bankrupt the baliffs cannot take anything from your home as the official receiver is technically the owner of everything you own.
slightly different if a creditor petitions for you.
baliffs and credit companies threaten like crazy to come to your door, I ducked away from my responsibilities for about 18 months before declaring BR, I had one visitor and then it was not a court approved order.
Have you spoken to one of the experts to the left ? lots of people do not understand the full system and get into emotional stress really quickly if you speak to one of the experts they will be able to tell by the tone of the letters from creditor at what stage you are at and can then offer reassurance to the process.
I used Ppaul and his team at Reviva and would recomend you give Paul a call or drop him an email with your full circumstances, he can then provide direction
good luck regards Richard |
Edited by - Richard P on 25 May 2010 18:32:56 |
 |
|
|
Gail.06
Starting Member
5 Posts |
Posted - 26 May 2010 : 09:08:52
|
Thanks Richard for your prompt reply, I have downloaded the document off the net and it seems pretty straight forward. I have been in touch with the ccc and this seems the only way forward otherwise I am going to be in the same boat for the next 20 years.
|
|
|
|
Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 26 May 2010 : 11:18:41
|
Hi Gail
yes it is best to take control of the situation, just spend time making certain you have planned everything before you petition.
I have read too many times about individuals who have raced into petitioning for BR, only to find that some cash assett being seized by the OR, when its sale could have been controlled at an earlier stage in the process.
Good Luck
regards Richard |
|
|
|
Gail.06
Starting Member
5 Posts |
Posted - 26 May 2010 : 11:59:31
|
Is there some kind of checklist I should follow to make sure I have everything covered.
|
|
|
|
Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 26 May 2010 : 18:37:17
|
i wish their was, I was led by my expert to at the time my head was spinning so needed guidance
regards Richard |
|
|
| |
Topic |
|
How long until bankruptcy order goes through?
