You will receive a phone call from the official receivers office wanting to speak to you for around 30 – 40 minutes. This is simply to confirm the information you have submitted in the Statement of Affairs and Debtors Petition. They will also assess your income and expenditure with a view to obtaining an Income Payments Agreement (IPA).
One of the most important aspects of seeking professional bankruptcy advice, is submitting an income and expenditure that reflects as little disposable income as possible. If there is less than £20 disposable income, you may well avoid an IPA which is the best possible result.
At bankruptcy.co.uk we have access to the latest allowable limits re your expenses and this could be the difference between receiving an IPA or not. If you receive an unfair decision re an IPA, we will help you contest it and our success rate is outstanding.
Bankruptcies are no longer published in the local newspaper unless it is in the public’s best interests. However, they are advertised in the London Gazette and are recorded in the Insolvency Register.