help on hmrc bankruptcy please!

london1973

I am almost certainly to be declared bankrupt by HMRC imminently (I think), the file has been with debt management for some time and a field agent has visited my property at least once-I wasn't in- about 3 weeks ago I noticed an anomaly on my statement and they gave me until 11th April to rectify, which I have now done, so I am expecting the heat to be back on next week. My main question is how long is this all going to take, approximately obviously, and what are the steps-I don't contest the debt, its enormous and I have no hope of paying it, or even making a small dent, so I've accepted my fate-however I would like to understand the process now, so I can get some affairs in order in good time, mostly around work and business-


would be hugely grateful to hear from someone who has been through something similar, and be walked through it a bit-many thanks

Grumpelstiltskin

There's a thread here from someone who is further down the line than you.


https://forums.moneysavingexpert.com/discussion/5436444

london1973

Thanks for your prompt response, I've had a look-I'm actually looking for guidance on the bit in the middle if that makes sense, not what happens after bankruptcy is made.
i.e the likely timeframe between now and judgement day

National_Debtline

Hi

If you’re self-employed Business Debtline should be able to give you some insight on the process.

www.businessdebtline.org

James
@natdebtline

london1973

thanks James, I will give them a shot, to be more specific I am working on a new opportunity with a new business partner, everything is looking very positive, however at some point I am going to need to disclose my impending bankruptcy, as I will not be able to be a director etc-i need to time this carefully as its early stages in the relationship, I'm sure its manageable and i will be able to continue in a employee/consultancy capacity, but i don't want to scare him off - therefore need to know roughly how long it all takes from the position i am in now- hope this makes sense to someone!

Grumpelstiltskin

Although I'm not an expert I think the answer maybe 'How long is a piece of string.'


My guess is there is no time frame set down in stone.

tigerfeet2006

Grumpelstiltskin wrote: »

Although I'm not an expert I think the answer maybe 'How long is a piece of string.'


My guess is there is no time frame set down in stone.

^^^this^^^ I am afraid.

Please get in touch with Business Debtline as they will be able to help you with the process.