UK Bankruptcy Law
UK Bankruptcy Law Questions Answered by Verified Experts
The loans from family and friends approximately how much were these in total?
15k The loan was to help finish off a project so help sell for the IVA which we hope would bring in 10 times this amountWill the bank be repaid in full and what is the value of the other creditors?
No pounds in pence. We have a limited number of creditors - Banks, Credit Card, small inland rev (CG) and a few bills and family and friends previously to the petition (c500k) Is it likely a private trustee will be appointed?
I would of thought so as we have a number of properties that are as a whole in negative equity which were left out of the IVA but obviously would be in the bankruptcy, but I would assume you would never 100% know and it depends on the OR
Yes there is for the loan
What about the holiday?
Will the OR go through previous bank statements even though I am not making myself bankrupt? Should I have not taken the holiday?
Is it automatic that on our first meeting with the OR he will ask for bank statements?