How to use a bankruptcy lawyer

If you or your business can no longer pay the debts it owes, you have the option of making yourself bankrupt. Under current UK law bankruptcy is a legal status that usually last one year. To make yourself bankrupt you need to make a ‘bankruptcy petition’ to a court. If the bankruptcy is granted, the court will issue a ‘bankruptcy order’.

It is also possible for you to be made bankrupt by anyone that you owe money to. In most of these types of bankruptcy cases it is businesses that go to court to make another business bankrupt in order to recover the money they are owed. Also, government departments such as HM Revenue & Customs can also make you bankrupt if you owe more than £750 in tax.

Businesses that want to make themselves bankrupt should always use a bankruptcy lawyer. They have experience of the whole bankruptcy system and can advise on the best way to handle all the bankruptcy procedures. And if you want to make someone bankrupt in order to recover money you are owed, then a bankruptcy lawyer is absolutely essential.

While you are bankrupt it is important to obey all the rules that govern your bankruptcy status. If you fail to do so, you could face additional penalties. If you feel you have been unfairly treated during your bankruptcy, you can use a bankruptcy lawyer to fight a case in court to perhaps reinstate some of the assets that were sold to pay your debts.

Also, if you feel that a bankruptcy that is forced onto you or your business is unlawful, the services of a bankruptcy lawyer will be invaluable. They can represent you when negotiating with the bankruptcy court or the Official Receiver that will handle your case. If you are in any doubt about a legal aspect of bankruptcy, always seek qualified advice as soon as possible.

If you would like to obtain legal advice about bankruptcy, Contact Law can put you in touch with a local specialist insolvency / bankruptcy solicitor free of charge. So, if you have any questions or would like our help in finding local insolvency / bankruptcy solicitors please call us on 0800 1777 162 or complete the web-form above.