Your Official Receiver - Bankruptcy
If you have made an application for bankruptcy and it has been accepted, you will then begin correspondence with your Official Receiver. An Official Receiver is a representative of the courts who will be in charge of dealing with your bankruptcy proceedings.
Once you have been declared bankrupt you will get a letter from your official receiver, within two weeks of your ruling. This will ask you to either come in to meet them face to face or it will ask you to arrange a time where you can talk on the phone. There is also a chance that you will need to fill out a questionnaire detailing the circumstances that you find yourself in.
In addition to this letter you will probably receive a lot of information about your bankruptcy and the process that you are going to go through. This should explain most of the important things that you need to be aware of.
Talking To Your Receiver
When you meet with your official receiver you will need to give them information about all aspects of your finances. This includes telling them about all the loans you have taken out and which lenders you have borrowed them from. They will also need to know extensive details about your income from salaries and other sources such as pensions. If you have any dependents such as children you should also inform your official receiver and explain the extent to which they are dependent on you.
The meeting that you have with your Official Receiver will either be in person or over the phone. In this meeting they discuss their evaluation of your financial situation, ask you for any further details they may need, ask you about the circumstances that led to your bankruptcy. They will also answer any questions that you may have about the bankruptcy procedure.
After Your Bankruptcy Is Decreed
Once you have been given a bankruptcy order you will be handed a version of the order. You may also be expected to provide more information about your situation and if this is the case, it will be carried out in the form of an interview. Control of your assets will be handed over to your official receiver and the assets will then be sold off in order to contribute towards your repayments. You will be informed of a number of restrictions that will apply to you whilst the bankruptcy is in place. Your name will also be put onto the official Individual Insolvency Register.