Being Bankrupt

Being Bankrupt

This section of website provides information about the legal processes and issues involved during bankruptcy both from the point of view of individuals in financial difficulty and creditors seeking to recover money due to them.

For people in financial difficulty

This section provides information about the obligations on a bankrupt, what happens to their property, what legal restrictions there are and what to expect in terms of enquiries and investigations.

For creditors

The information in this section explains how a trustee in bankruptcy is appointed, how the bankrupt’s affairs are dealt with what returns are made to creditors. It also explains the trustees powers to look into past transactions and overturn these for the benefit of the creditors.

We hope you will find this information helpful but please remember that it is not legal advice and you must not rely upon it for any particular course of action.

For more information proceed to What a Bankrupt must do