Advice If You Want To Go Bankrupt In Loughborough

As a debt advisor working out of Leicester I get a number of calls every month from people who live in Loughborough asking for help with their debts. Loughborough has a small court but it does not have bankruptcy jurisdiction. In short this means that those who live in or around Loughborough and for whom the solution to their debt problems is bankruptcy, will need to make a trip over to Leicester to get that sorted.

The process for going bankrupt in Leicester is not very straight forward and can be a pain if you have to come in from outside the city. The court in Leicester has a two stage process for its bankruptcy. Many other courts which I go to deal with bankruptcy all on one day. In Leicester they have a two day process.

The bankruptcy starts with the filing of the petition and the statement of affairs at the court office between 11 and 1 every day except for Fridays. The fee of either £450 or £600 is paid at this stage. Once the papers have been lodged and the fee paid, the applicant is asked to go away and come back the next day at 9.30 in case the Judge who is reviewing the papers, requests to see the applicant.

In the years that I have been taking people through the bankruptcy process in Leicester, none of my clients has ever had to go before the Judge. It can therefore be a long but pointless journey for someone outside of Leicester, but still obligatory.

It is worth knowing all this information as I have known people attend at court on an afternoon expecting to be able to issue their papers and being unable to do so.

After the bankruptcy order has been made a bankrupt will remain bankrupt for 12 months. He will be contacted by the Official receiver who is also based in Leicester. It used to be the case that everybody had to travel in to see the Official Receiver. Now he calls and has a telephone interview if he has affairs which he wishes to discuss. In addition another change has been that he no longer advertises the bankruptcy in a local paper, so it would not appear in the Loughborough Echo.

By: Help with debt

Article Directory: http://www.articledashboard.com

Steve Thatcher is the owner of Help With Debt based in Leicester, his business is providing debt help to the residents of Leicester and the rest of England. Call for free advice on 0808 160 5577. See www.helpwithdebtuk.com. Email sthatcher@helpwithdebtuk.com