188体育

You鈥檒l receive a copy of the bankruptcy order. Your name and address will be published in and the Individual Insolvency Register.

You鈥檒l usually hear from the person dealing with your bankruptcy (the 鈥榦fficial receiver鈥�) within 2 weeks of getting your bankruptcy order. You鈥檒l get information about what you must do.

People who鈥檒l deal with your bankruptcy

The official receiver will usually deal with your bankruptcy from start to finish. They鈥檒l also be known as the 鈥榯rustee鈥�.

Sometimes, the people and organisations you owe money to can ask for a different trustee to take over dealing with your bankruptcy from the official receiver. You鈥檒l be told if this happens. You鈥檒l still need to give information to the official receiver if they ask you to.

What you must do

When the official receiver or trustee asks you, you must give them any information they ask you for. This can include:

• information about your finances, including any money you are owed
• a list of everything valuable you own

You must tell the official receiver or trustee immediately if:

• you鈥檙e running a business
• the things you own need protecting - for example because other people might claim them, or they鈥檙e at risk of damage or theft
• the things you own need to be made safe to protect others - for example a building you own is unsafe or you have hazardous substances

You must tell the official receiver or trustee about any change to your income or possessions during your bankruptcy, for example if you find out you鈥檙e coming into an inheritance.

If you do not give the official receiver or trustee the information they ask for

They can:

• ask you to go to court to explain why

• ask the court to delay the end of your bankruptcy so it lasts longer

What the official receiver does

罢丑别测鈥檒濒:

• check the information you give them about your debts, your finances and the things you own

• answer your questions about the bankruptcy process, if they can

The official receiver might want to interview you.鈥� If they do, the interview could take place over the phone, by video call or in person. They might:

• ask for more details, for example about your vehicles and bank accounts
• ask how and why you became bankrupt

The official receiver will send a report to the people and organisations you owe money to, including details of the things you own and your debts. This usually takes 4 weeks but can take up to 12.

While you鈥檙e bankrupt

There are some things you will not be able to do.

If your possessions are valuable, the trustee may sell them. This can include selling聽your home but only if you have equity in it.

The trustee will decide how much spare income you have. This will depend on how much of it you need to live on.

The trustee will use your spare income and the money from selling your valuable possessions to pay for your bankruptcy and to make payments towards your debts.聽

Find out what happens to your money and income if you鈥檙e made bankrupt.