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Bankruptcy

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  • #1

    Bankruptcy

    I am now proceeding with bankruptcy against a builder that
    owes me money and continually refuses to pay.

    Are there any ‘pit falls’ with the petition process to watch out for and if so what are these.

    Many thanks
    Tags: None
  • #2
    Does the Builder have enough money?assets to pay debt and your costs in making them bankrupt?

    Comment

    • #3
      Hi,

      Have you tried a TPDO?

      Much cheaper than bankruptcy and you can then see if you have a reaslistic prospect of recovering anything

      Comment

      • #4
        TPDO not great as only freezes assets in account on the day. He has equity in his house and is working and married so his wife has income as well. Hopefully the Trustee will take his assets !

        Comment

        • #5
          Make sure that you understand each and every step in the process. Failing to follow any of them correctly is in each case a pitfall.
          Lawyer (solicitor) - retired from practice, now supervising solicitor in a university law clinic. I do not advise by private message.

          Litigants in Person should download and read this: https://www.judiciary.uk/wp-content/..._in_Person.pdf

          Comment

          • #6
            Originally posted by Cpt Morgan View Post
            TPDO not great as only freezes assets in account on the day. He has equity in his house and is working and married so his wife has income as well. Hopefully the Trustee will take his assets !
            Hello,

            Yes I am aware, but making him bankrupt will be very costly and you may not recover much of your money.

            If he is taking money and not returning it, he may well have a lot of money in the account that you can freeze.

            Even trying this is a lot cheaper than bankruptcy.

            In respect of your original post there are no "Pitfalls" but you need to do everything carefully and correctly because even one small thing can cause the process to fail, which will be likely quite costly for you.

            Comment

            • #7
              The OP has been chasing this for years, JK.
              Lawyer (solicitor) - retired from practice, now supervising solicitor in a university law clinic. I do not advise by private message.

              Litigants in Person should download and read this: https://www.judiciary.uk/wp-content/..._in_Person.pdf

              Comment

              • #8
                did i miss the message that says that? I can't see that?

                Comment

                • #9
                  Originally posted by JK2054 View Post
                  did i miss the message that says that? I can't see that?
                  Not in this thread. OP has posted about the subject previously, in a variety of threads:
                  https://legalbeagles.info/forums/sea...ssage%22%5D%7D

                  Comment

                  • #10
                    106 posts to date, JK.
                    Lawyer (solicitor) - retired from practice, now supervising solicitor in a university law clinic. I do not advise by private message.

                    Litigants in Person should download and read this: https://www.judiciary.uk/wp-content/..._in_Person.pdf

                    Comment

                    • #11
                      I saw that but didn't realise he was post spreading.

                      Comment

                      • #12
                        What on earth has this ‘distraction’ re lists got to do with anything ?

                        Post spreading - hilarious is this a ‘legal term’ lol

                        Comment

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