Areas of Law / Bankruptcy Debt

I was declared bankrupt in 2011 and discharged in 2012. I’’m being told that the trustee in bankruptcy is entitled to any money or assets I have made. Is this correct?

Your discharge from bankruptcy means you are released from liability to meet the debts that led to your bankruptcy. The trustee will still own any assets or cash that were seized as part of your bankruptcy to meet your debts: being discharged does not mean you can now reclaim your property. Any money you have made or any assets you have bought since 2012 will be your own however.

Area of law: Bankruptcy Debt

More Questions About Bankruptcy Debt

After my divorce a routine credit check uncovered three pages of County Court judgments and defaults listed against me and my former wife. I knew nothing about these and can only assume my wife had been forging my signature from the early days of our marriage.

Read answer

Some time ago I got into financial difficulties and got behind with my payments to a finance company with whom I had an HP agreement. They sent me reminder letters and charged me £15 for each one sent, adding the amount to my outstanding balance. Are they allowed to do this?

Read answer

What our clients say about our lawyers

“Very useful and professional advice, thank you.”

Another Happy Customer


Read More

About Us

Leading legal advisors, problem solvers – all round good guys! We’re firm believers in a practical, no nonsense approach to law. Forget the jargon, we like to keep it simple – why complicate matters? No stress, no worry, just straightforward solutions to your legal issues. Free legal advice at your fingertips, from the experts to your inbox.

Links

Free-Legal-Advice.co.uk is owned and operated by Farleys Solicitors LLP, a member of The Law Society and is regulated in the practice of law by the Solicitors Regulation Authority, Registration No: 484687. Any advice given on this site or in response to any question is only applicable to the law of England and Wales.

Privacy Policy | Terms