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Going Bankrupt

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I have just moved to a new address and am thinking of going bankrupt.

The rule here is that you need to have lived in the jurisdiction of your local County Court ‘for the greater part of six months’ or three months and a day. If you have moved locally and both addresses fall under the jurisdiction of the same County Court it doesn’t matter, but if you have moved 30 miles the chances are you will fall under a different court and the ‘three months and a day’ rule will apply. If you had lived at the new address for 6 weeks you would need to petition for bankruptcy at the previous court.

Ideally you would have been better off going bankrupt from your old address and then moving to a new address. This often helps to get closure on the going bankrupt process. Remember this is a fresh start and new beginning. So careful thought should go into when and where you should consider going bankrupt from.

If you are unsure and would like more information then call us directly and we can run through the process with you. The decision of going bankrupt will be based on your primary instinct as to whether or not you actually think you can get your way out of debt or at least get it to position where it is stabilised and under control.

It is actually quite usual for the majority of people that will have to consider bankruptcy to have started in a debt management plan, then progressed to an IVA and finally a bankruptcy order. Of course its not like this all the time but a lot of people with debt levels under £25k find themselves in this position.

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Bankruptcy UK

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