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Notice of Bankruptcy

Notice of Bankruptcy

 

A bankruptcy order will be issued regarding your company. The ordered has been requested by one of your creditors. While in bankruptcy, you will be subject to certain restrictions. For example, debit and credit cards must be turned over to the Official Receiver. Payments must continue for all debts excluded from the bankruptcy order. Several restrictions remain in place following bankruptcy discharge. For example, assets used to pay debts are not returned. If an Income Payments Agreement or Order is used, any spare income may be used to help pay creditors for as long as three years. Possible negative aspects:
• must turn over assets of value, financial interest in property
• must submit bank accounts and credit cards
• does not cover all types of debt (student loans, child maintenance payments, and court fines are usually excluded)
• may have to close ompany
• affects ability to get credit for up to two years
• listed in Individual Insolvency Register
• Banks mortgage company, landlord, insurance providers, and pension providers will be informed
The bankruptcy order will placed on 01/14/2014 if not action is taken by you.

You can see the details and how to respond to the bankruptcy order and the Insolvency Service practitioner's information in the documents