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UK-Justice
UK-Justice, Barrister
Category: UK Bankruptcy Law
Satisfied Customers: 16193
Experience:  Called to the Bar in 2007
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I have a litigation lawyer (UK) working for me on a case against

Resolved Question:

I have a litigation lawyer (UK) working for me on a case against an individual who is due me over £20k.
He has told me he is starting procedure to bankrupt this person. This person is a house owner with a job.

Q. Will I get anything if they are made bankrupt, or will it just clear their depts.?

Q. What will this mean to this person?
Submitted: 1 year ago.
Category: UK Bankruptcy Law
Expert:  UK-Justice replied 1 year ago.
Thanks for your question. Please remember to rate my answer SMILEY FACE OR ABOVE so that I am credited for my time.

Does the person own any assets?
Customer: replied 1 year ago.

Just a house and a horse

Expert:  UK-Justice replied 1 year ago.
A. If there is equity then you may well get some money.

This is because any equity will be released and you may get payment from that.

B. a petition may get the person to pay up without it going ahead.

But it means all assets will become the property of the official receiver and they will not be able to get credit for some years.

Their house, if it has equity will be sold.

I hope this helps.


Please remember to click *** OK SERVICE *** or above so that I am credited for my time. The question does not close and you can ask follow ups.

Important: If you feel the need to rate as one of the lower two scores, it counts as negative feedback  so please reply to me via the REPLY with any further questions you may have. I will be happy to assist you further.
UK-Justice, Barrister
Satisfied Customers: 16193
Experience: Called to the Bar in 2007
UK-Justice and 3 other UK Bankruptcy Law Specialists are ready to help you
Expert:  UK-Justice replied 1 year ago.
I'm just following up with you to see how everything is going. Did my answer help?

UK-Justice

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