Receiving Petition for Bankruptcy tomorrow

pd2012

Hi,

I'm due to receive the formal letter which I believe is named 'Petition for Bankruptcy'. I am expecting it from the solicitors as they have visited several times and hand deliver the letters. It is due to be delivered by hand tomorrow at 2pm.

Basically, I was a personal guarantor for a business which failed so they are taking me bankrupt. The amount is around £8500.

I have two questions. Firstly, I have lots of other small debts, mobile phone contracts from years back, old unsecured loans (pay day) from years ago, loads of them.

When the official receiver contacts me, do I basically tell them about all of these debts too, so that they form part of the bankruptcy order?

I have no assets (apart from a bit of furniture and a TV/laptop but nothing luxury), I live with my parents, I'm not working an in no receipt of benefit. I'm currently looking for a job but struggling!

Secondly, I have not been there to receive any of the letters. I know the process will go ahead, so does it make any difference if I am there or not to receive the letters?

I hope someone can shed a bit of light on this for me. I'm not at all bothered about the bankruptcy because I think it is needed to be done so I can start a fresh again in the years to come. I just want to get out of all of the problems and hassle and if this is the way, then so be it.

Thanks all,

Phil.

fermi

All provable debts you have would be covered. The Official receiver/trustee would send you forms to list them all on along with any other info they need.

Not sure what letters you refer to and where you have not been? Your business? Your parents?

If the creditor wants to go ahead though it will. The important thing is to make sure you get and respond to anything from the OR/trustee once done, and fully cooperate with what they want.

pd2012

Hi, thanks for the reply.

To to clear - the letters were and continue to be delivered to my parents address. I am collecting them but haven't been there to receive any of them. Everything comes there. I just hope I can dig out all of the letters so that I can prove any debts that I have.

Thanks again.

fermi

All debts are covered anyway, even if you should not be able to provide details and they come to light some time later.

While you have a legal duty to give over to the OT/trustee all the info on them you have, it doesn't prevent any being covered that you are or were unable to get details of at the time.

Bankruptcy is a legal line in the sand and to do it's job it must cover all your debts. Not just the ones you can manage to put down on paper at the time.

pd2012

Excellent, very helpful reply. Many thanks!