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What will happen in a bankruptcy court hearing?

This bankruptcy information is intended for residents of England, Wales, and Northern Ireland. You may refer to Scotland sequestration for details about bankruptcy.

Before you consider filing bankruptcy, you must have a broad understanding of its process and consequences.

There are certain bankruptcy forms and paperwork that you need to process when you apply. It is a must that you adhere in completing this forms within the given period. You can submit these forms online and make sure to pay bankruptcy fees and costs.

Do I have to attend bankruptcy court hearing?

It has been practiced previously that once you declared bankruptcy, you are to attend a court hearing. Well, not anymore. You don’t have to attend court hearing anymore once you declared bankruptcy.

Recently, you will have to submit your application online for the adjudicator to evaluate your qualifications. Once the result comes in, the adjudicator will let you know of the decision.

Who can decide for bankruptcy proceedings?

When you submit an application online, the adjudicator will evaluate the state of your insolvency. This will include determining your capacity to pay your debts at a just amount.

The adjudicator has the power to reject your application. If you have enough resources, assets, savings, or investments that can cover your indebtedness, a DRO or debt relief order might be more favorable. In this case, your application for bankruptcy is likely to be rejected. We recommend that you get debt advice from our team of experts to help you find out whether your application can get approved or rejected.

In contrast, when your bankruptcy is approved, you are hereby deemed bankrupt straight away. Hence, your creditor cannot collect debt payments or take further actions to collect the money that you owe. Your debts will be wipe out after your bankruptcy discharge. This can happen after a year from the date you are deemed bankrupt. Since you’re free from debt collectors harassing you, you can consider defaulting your debt when your application is approved.

Moreover, a bankruptcy or insolvency trustee will be dealing with your case. These can be an official receiver or an insolvency practitioner who will seize control of your assets during the time of your bankruptcy.

What can happen during bankruptcy interview?

Since your case will be handled by an OR or official receiver, an OR will report your bankruptcy and all valuable assets to your creditors. You will receive a form that contains questions you need to answer. When this happens, you must work with the OR to ensure the completion of pertinent documents before the requested deadline.

The interview can usually be through phone unless there is a need to be more oriented with details.

The case examiner might ask you about the circumstances and misfortunes that lead you to declare bankruptcy. You also have to provide details about all your assets and debts when necessary. Besides, the examiner can also answer your bankruptcy-related questions that are bugging you. You must secure a copy of your statement of affairs since in case you need it during the process.

The OR or official receiver will handle your case. The OR will report your bankruptcy and all valuable assets to your creditors. You will receive a form that contains questions you need to answer. When this happens, you must work with the OR to ensure the completion of pertinent documents before the requested deadline.

The interview can usually be through phone unless there is a need to be more oriented with details.

What are the possible questions during bankruptcy interview?

The case examiner might ask you about the circumstances and misfortunes that lead you to declare bankruptcy. Additional details may be requested which involve your assets and debts. Besides, the examiner can also answer your bankruptcy-related questions that are bugging you. You must secure a copy of your statement of affairs since in case you need it during the process.

Talk to us

Getting a letter or visit from a bailiff is an indication to seek FREE DEBT ADVICE. Our team of debt experts can help you in control of the situation.

We can help you get back on your feet by putting a debt management plan together. You must need to act now before the situation becomes worst. Should you wish to speak via phone, call us at  0800 193 1024 or online.