How to use a bankruptcy lawyer
If you are going to make yourself bankrupt you can use a bankruptcy lawyer to negotiate the terms of your bankruptcy order. It is, however, always beneficial to try and come to an arrangement about your debts before your petition is heard by the bankruptcy court.
If you need a bankruptcy solicitor to represent you at court, or simply some advice if you think you will imminently be facing bankruptcy, call us and we will put you in touch with a solicitor specialising in bankruptcy and insolvency matters, recommended by our clients.
When should I declare myself bankrupt?
Bankruptcy should be seen as your last resort after you have attempted to resolve your debt issues with Individual Voluntary Arrangements (IVAs), administration orders or informal agreements. In all these cases, a bankruptcy solicitor can represent you when speaking to these service providers.
A bankruptcy solicitor will be essential if bankruptcy is being forced on your business by another enterprise that you owe money to. It is legal for them to go to court and petition for your business to be made bankrupt, to force your assets to be sold to pay your debts.
In these cases, the services of a bankruptcy solicitor will be invaluable. They can look closely at the bankruptcy petition to see if this is lawful.
Using a lawyer to chase a debt
If you want to go to court to make a business bankrupt that owes you money, a bankruptcy solicitor can help you ensure you have all the relevant documentation in place. A bankruptcy solicitor can also speak for you in court and deal with the Official Receiver that will handle your case.
Negotiations with a creditor
If you are a bankrupt, a lawyer could help you with negotiations with the court that issued your bankruptcy notice and the Official Receiver that will handle your case during the year your bankruptcy will be typically in force. If you have any questions or need any bankruptcy regulation clarifying, a bankruptcy lawyer can be a great asset to have available.
Bankruptcy law can be highly complex, with long lasting legal consequences, and should therefore not be interpreted by a layperson. If in doubt about any aspect of a bankruptcy case you are involved with, always seek qualified help and advice as soon as possible.
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