I'm from the UK. I have got a solicitor dealing with someone that is due me just under £20,000. They say they are going to apply to bankrupt them. Does this not mean that i will get nothing back? I have paid them £1300, and it seems like i have just wasted this money.
State/Country relating to question: United Kingdom
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Thanks for your question. Please remember to click ACCEPT once you get my answer.It dependsIf the person has assets then yes, you will get something back.This is because when they are bankrupt their assets are sold to pay creditors.If they own nothing then no, you won't get anything back and in my view there Would be little point in bankrupting them.However if they own property you may be better off getting a charging order against it, which makes the debt secure. Please remember to click accept so that I am credited for my time. Thank you.
Called to the Bar in 2007
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