Once you have had a free consultation with us & your requirements have been understood, if appropriate we will assist you file for bankruptcy with a pre-qualifying interview at any of our regional offices.
Depending on each individual’s circumstances, it is probable that a Trustee in Bankruptcy would be appointed. Particularly if there are properties involved. We will assist in the handling of the Trustee’s questions post-bankruptcy as an ongoing service. It is important to note that your matrimonial home is protected for up to 2 years and 3 months after your bankruptcy. During this time Cromwell Seymour will assist to negotiate a settlement with the Trustee so that the home reverts to your partner/wife.
It is common for the family to remain in the home provided that the ongoing mortgage or interest payments are paid to the Lender.
You would not be permitted to hold a Directorship, but it is possible for an un-discharged bankrupt to hold a position of Company Secretary of a UK trading company. Thus should you wish providing you with the opportunity to continue trading using your entrepreneurial skills.