Another BR question...

Experiment626

Once you've petitioned to be made bankrupt, gone along to court and been officially made a bankruptee, can the decision be reversed by any creditors, or do they have to like it or lump it?

Sooty0404

Providing there is nothing illegal about your petition there is nothing the creditors can do. It is important to remember though, that only unsecured debts are eradicated -secured debts such as mortgage, loans secured on property etc are still owed.

In reply to your earlier post, to have a trouble free bankruptcy you have to be seen to be co-operating with the Official Receiver and not declaring or trying to hide some debts could be in breach of your bankruptcy and extend the bankruptcy period.

Experiment626

He he...nothing illegal, it's just that i'm currently considering bankruptcy and about £6.5k of my £18k debt is the taxman, just have this worry that I actually go ahead with it and then somehow it gets reversed, I barely sleep through the night with the worry of the taxman on my back and as of yesterday I found out with the maximum I can afford to pay a month (£90), it would take 8 years just to clear that £6.5k of debt!

In regards to my other question, that literally was just down to a mate of mine thinking he knew it all and I wanted to shoot him down :rotfl: