Fighting Bankruptcy on the day of the hearing

dave1968 · 20 May 2018 at 11:26AM

Right so its 100% certain then that they would reject a 2 year repayment proposal with a £5000 down payment up front ?

How long is between me being served the bankruptcy petition to the actual day where a judge issues the bankruptcy ?

thank you again Dave

antonic · 20 May 2018 at 12:36PM

The Courts have to issue the bankruptcy petition against you
Then the process server has to to serve the petition on you ( this does not have to be at the address HMRC hold for you, service can be effected at any address (within reason) but you will need photo ID to prove who you are.
The petition will have a date and time on it for the date where your case will be dealt with by the Bankruptcy Court.
Once served you are bankrupt.
Put a credible repayment proposal to them with the £5k lump sum and see what HMRC have to say.

dave1968 · 20 May 2018 at 1:44PM

Thanks Antonic for that so it is on the date and time that im given on the petition that is served to me which is when I would be officiall Bankrupt ? and not when they actually give me the date and time for when it will be dealt with by the Court ?

How long usually between being served of the date and time is it ? example an official issues to me the petiion of the court date / time - how long in the future would that be ?

again thanks all for comments and feedback

Dave

antonic · 20 May 2018 at 1:54PM

dave1968 wrote: »

Right so its 100% certain then that they would reject a 2 year repayment proposal with a £5000 down payment up front ?

How long is between me being served the bankruptcy petition to the actual day where a judge issues the bankruptcy ?

thank you again Dave

dave1968 wrote: »

So when I get served the petition is there no time or date given for the date of the court hearing or is that when the process server turns up it is because I am already bankrupt ?

I have read I can apply for a adjournment so was just wondering if there would be any time to do this ?

thank you Dave

dave1968 wrote: »

Thanks Antonic for that so it is on the date and time that im given on the petition that is served to me which is when I would be officiall Bankrupt ? and not when they actually give me the date and time for when it will be dealt with by the Court ?

How long usually between being served of the date and time is it ? example an official issues to me the petiion of the court date / time - how long in the future would that be ?

again thanks all for comments and feedback

Dave

I *think* that`s the case , because a Judge has already granted the bankruptcy petition.

As for the date and time of the hearing , thats set well in advance to give the time the process server to serve the petition before the court date.

debt_doctor · 20 May 2018 at 2:10PM

From the Insolvency Service Technical Manual.....

45.127 Attendance at the hearing

(Amended September 2012)

The petitioning creditor, the debtor and the supervisor of a voluntary arrangement may appear and be heard at the hearing [Note 38]

You can put your case to the Judge at the hearing. The Revenue are reluctant to budge once a petition has been served - but ultimately it is down to the judge.

The Judge needs to decide:
1) Do you owe the money.
2) Are you unable to pay the debt
3) Do your liabilities outweigh your assets

If it's yes, yes and yes then you are insolvent, and the petition should be granted, but the Judge can adjourn to allow 'a short time' to repay if opposed by the creditor or an agreed time if the petitioner agrees.

An IVA is possible, but does the IR hold 25% or more of the debt? - If they do, they can vote it down.

All you can do is put forward your proposal and see what happens - time is short now, but actually doing the returns to (hopefully) minimise the debt would be a good move.

DD

dave1968 · 20 May 2018 at 2:18PM

"As for the date and time of the hearing , thats set well in advance to give the time the process server to serve the petition before the court date."

Will I be notified of the date and time of hearing in advance ? or is the first I hear of the date is when served ?

Im really confused as surley the courts would need to inform me in advance of a day and date of the hearing in court to decide if im to be made insolvent or not ?

thanks

debt_doctor · 20 May 2018 at 2:29PM

Information for petitioning creditors on the UK.GOV Website......

Court hearing
The court will tell you where and when the petition will be heard. This will be at least 14 days after you served the petition to the debtor.

The debtor can oppose the petition by giving the court a statement of truth at least 5 days before the hearing.

You must list the people that you want to appear and speak at the hearing.

The debtor and a supervisor of an IVA can also appear and speak at the hearing.

At the end of the hearing the court can:

stay (delay or stop) the petition
dismiss the petition
adjourn (postpone) the hearing
make a bankruptcy order

sourcrates · 20 May 2018 at 2:30PM

dave1968 wrote: »

"As for the date and time of the hearing , thats set well in advance to give the time the process server to serve the petition before the court date."

Will I be notified of the date and time of hearing in advance ? or is the first I hear of the date is when served ?

Im really confused as surley the courts would need to inform me in advance of a day and date of the hearing in court to decide if im to be made insolvent or not ?

thanks

Dave, I know its tough for you right now, and we are trying to help as much as possible, but non of us on here have actually been made Bankrupt by HMRC before (as far as I am aware anyway).

Its not like dealing with a normal creditor, they have powers way beyond that, we can only go by personal experience, and what we can glean off the internet, so we are not able to answer all your questions with any degree of certainty.

Best advice would be to try to prolong events as long as possible, have your day in court, hope you get a sympathetic judge, you can try for the IVA, or just pay them as much as you can, as soon as you can, and hope things just go your way, that really is the best advise anyone on here can give you.

debt_doctor · 20 May 2018 at 2:31PM

You will get notification of the hearing.
DD

iammumtoone · 20 May 2018 at 2:49PM

I do not know anything about bankruptcy.

Having read this thread I suggest you get urgent paid for specialist advise, the people on here do know what they are talking about but please don't make life changing decisions regarding what to do about this from something you have read on the internet.

You have 5k I understand you want to keep that to put towards the debt but some of it might be better spent on getting professional advise.

Look at it this way, they either make you bankrupt and can only take what you have so the money spend on advise will be gone and not available to them, or you can spend a bit on getting some advise/someone to represent you and just maybe that advise will mean you can avoid the bankruptcy.

No one here knows what will happen even the professionals won't but possibly they will have gone through this before with other clients so are best placed to guide you and make recommendations.

Good Luck

Fighting Bankruptcy on the day of the hearing

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free