WEST LONDON LAW
WEST LONDON LAW
Experts in Bankruptcy Defence
We specialise in defending bankruptcy
Expert Bankruptcy Defence Lawyers
We are Expert Bankruptcy Defence Lawyers in London and have over 20 Years of Experience in Protecting Your Assets & Financial Future
OUR F.A.Q'S
Your Bankruptcy Questions Answered
How long does my bankruptcy show on my credit score?”
Whilst the Insolvency Service will notify credit agencies of your discharge from bankruptcy, notice of your bankruptcy will stay on your file for a minimum of 6 years from the date of the bankruptcy order. However, your credit score starts to improve from the point the credit agencies receive notification that your bankruptcy has been discharged.
Can I purchase property after I have been made bankrupt?”
You will be able to own any property you acquire after having obtained a discharge of your bankruptcy, i.e. after one year of your bankruptcy, providing that the source of funds (deposit monies) do not flow from any assets belonging to your “Bankruptcy Estate”. Your bankruptcy estate comprises of all of your assets which you owned at the date of the bankruptcy order being made against you as these pass to the Official Receiver or your Trustee in bankruptcy.
What property does the bankrupt not lose?
The bankrupt is entitled to keep hold of all tools, books, vehicles and other items of equipment that are necessary for the bankrupt’s personal use in his business, vacation or employment.
All clothing, bedding, furniture, household equipment and provisions that are necessary for the basic domestic needs of the bankrupt and his family.
What will happen when I am made bankrupt?”
After the court makes a bankruptcy order, the bankrupt is required to attend the Official Receiver to complete a questionnaire (Preliminary Information Questionnaire). This booklet asks for a bankrupt to set out his income, assets and liabilities. The Official Receiver usually records the interview and then decides whether to appoint a Trustee in Bankruptcy to sell assets to pay creditors.
What will happen to my home if I am made bankrupt?
When a person is made bankrupt, his assets pass to the Official Receiver/Trustee in Bankruptcy. This will not affect the ownership of any co-owner, such as a spouse, however they will be unable to sell the property without the Trustee’s permission.
The Official Receiver or Trustee will not sell the family home during the first year of the bankruptcy and have three years from the date of the bankruptcy order to make an application to sell the home. Should the Trustee not make an application in this three year period, the property reverts back to the bankrupt. However, this three year rule only applies to the family home.
Why Choose
West London Law
We are highly experienced in bankruptcy law and take pride in having helped hundreds of clients and their families save their family home for nearly 20 years.
Award winning
Recoverable Invoices
Successful Cases
Years in business
First impression, our clients
West London Law’s bankruptcy defence expertise helped us navigate a tough financial situation with confidence and clarity.
NEED BANKRUPTCY ADVICE?
Expert Advisors
Our Bankrupty Services
Debt & Corporate Insolvency
West London Law Limited does not provide reserved activities to the public.
Gurvir Birang is a practising solicitor, founder, litigator and bankruptcy expert, authorised and regulated by the SRA. Gurvir Birang practices from Spencer West LLP. Spencer West LLP is authorised and regulated by the SRA.
West London Law is a trading name of West London Law Limited, registered in England and Wales (company number 06776937).
West London Law was set up in 2003 and became non-regulated in 2020 and is no longer a firm of solicitors. This website is for marketing purposes only.