What is failure? Bankruptcy is one of the most effective ways to deal with debts you can afford. Once you declare that you are bankrupt, all lodging in his possession will be used to pay debts. After a period of one year, all your remaining debts are written off and you can start again. You can file your own petition in bankruptcy or your creditors can do for you. However, the effects are the same. Most of the rules on bankruptcy have changed since April 2004 when the Law on Enterprises was approuvée.Comment die failliteLe; Pot failliteUne your application filing for bankruptcy is readily available in your local county court. Treatment of the petition in May cost about £ 310 deposit and £ 150 court fee. These costs must be paid together with the presentation of the petition. If you are low income or certain benefits you can obtain an exemption from payment of these large taxes.Seuls county courts accept the appeals fail. Even if you want to get the form from the local county court, you will need to travel to the High Court to send the form. If, for example, you live in central London, you will go to the High Court to send the petition. The district judge is generally called for a hearing on the same day to decide whether to make the order or not. Once the order is made, you will get in touch with the administrator who manages the failure and to report all your personal data. The information will be put on usually refers to your finances, including income, expenses, assets, insurance policies, and die; code policies retraite.Un creditor is failliteVotre creditor may petition for Your bankruptcy if you have 750 pounds or more, you are not able to pay conscientiously. If you have multiple creditors, can join forces to file your bankruptcy, although it is rarely done. It can also be a failure if Individual Voluntary Arrangement (IVA) échoue.Avant bankruptcy petition is filed in court on your lender first send a demand for “office”, asking ; to pay the debt, either in installments or through the properties, you can & # xe9; dez.La legal claim is typically used by creditors to force the debtor to pay the amount to imm & , # xe9; mind, without any intention of declaring bankruptcy. Indeed, no amount is required to submit a request for legal deposit, while fees for royalty début.Dans failure from twenty-one days, the creditor and the debtor must reach agreement Otherwise, the order of; May be filed in bankruptcy court. If your debt is less than £ 750 or there is a dispute over money you have, you can request that the application of the rules put côté.CONSEILS – Auditors time ExigeUne you receive a legal request, your next move should be to see if you can do to save c & # XF4; té.Dois I have assets? Once they have been declared bankrupt, the liquidator or administrator name & # xe9; may exclude sell all the resources to pay dette.INFORMATION – Please note that certain items or goods are not counted as assets . These elements are essentially your family needs such as clothing, bedding, furniture and household items. Objects that are required to perform most of your trade or profession are not treated as available and in fact can not be taken off you. Your antiques or expensive equipment can be auctioned and also your car until it is born needed in your profession. In some cases, a car is necessary for employment is sold and replaced by another cher.Toutes less resources that are not & # xe9; es from your possession must be sold to IP & # xf9; soon. If one of them at home after being discharged from bankruptcy, they belong to you. The administrator will continue to take possession of them until all were vendus.INFORMATIONS – ActifLe single activity or value that is processed last & # xe9; parently is your home. For more details, see below dessous.Bankuptcy leases and agreements achatUne clause in the lease-sale states that you must return the product once they have been, bankrupt. This means that your contract with the company will be solved completely. In some cases, however, may be authorized to continue the property to make payments with a conscience, even when you d & # xe9; faillite.PensionsSi Clara has failed before May 29 2000, the board staff could be considered as a resource. This means you will not receive a lump sum or weekly payments in the future. This rule has been changed, though. Therefore, if you declared bankruptcy after May 29, 2000, the pension may be personal or professional, must be left intact. Some borrowers have used their pensions to stop creditors from taking away their savings. In this case, the pension fund may be lost ownership officiel.La maisonUne receiver and your property or your home is an asset that is treated differently. If it is yours alone, which may be forfeited to the sale, regardless of whether they have a net worth, or person. If you live with your spouse and your children, the sale will be delayed by a year to give them the time to find another place to live. Once you declare bankruptcy, your interest in your property is naturally transferred to the liquidator. If you own or are in some form of common property, the liquidator shall take the side of equity and # xe9;. This is also known as the “real interests”. In some circumstances it may be considered as having a positive interest, but don ‘& # XEA, your not named in the mortgage. In certain circumstances, and the co-owners can make an offer to the trustee to purchase shares of assets in your home will intacte.REMEMBER – Beneficial intact, tsi co-owners intend to purchase your share of equity, must do so quickly. Otherwise, the editor in May to get their hands in the sale of your house altogether. Who wants to buy your interest benefits should contact their Official Receiver and deal directly with him. The Insolvency Service very low costs for the transfer of your beneficial interest, except one thing must be really difficult to manage. You also need to reach an agreement with the administrator on the actual value of your interest benefits before this type of transaction is made. If there is negative equity in the property, the value of your beneficial interest can make a minimum of € 1. 00.INFORMATIONS – low cost of transferring benefit details régimePour on the cost of transfer of ownership to low speed, there a brochure entitled “What will happen to my house?” , which are available at the service of insolvency. You can also call the National Debtline on telephone numbers 0808 808 4000 for more information. If you can not have someone buy your interest & b # xe9; beneficiaries in your home or your property, your Official Receiver will have no choice but to sell. If your home equity or very little in it, the court must postpone the sale of up to three years and see if your property has increased in value. enter into an agreement with your Official Receiver About your interest to keep profitable produise.Si this scenario does not guarantee you a mortgage or loan on your property, your monthly payments should be maintained to stop your lender to take possession your; té.Nouvelles rules from April 2004Avant April 2004, the official receiver is allowed to return at any time in the future, to take your property and sell it. The situation has now changed. If you went bankrupt after April 2004, the trustee is given three years to do with your property. If he is unable to sell within the time will give your property & # xe9; again under your property. To counter this law, the trustee can sell your house immediately, looking for a sales order, or to request further; chin. If the liquidator shall apply to payment, will be given 12 years to seek an order of vente.Vais I have to pay anything from my salary? You may be required to pay a certain amount of your salary, if the liquidator has been shown to have the money to lose. Think your income and expenses (including mortgage, rent, household bills, and every other form of expenditure) and the & # xe9; study if you pay for a monthly income dues.Paiements agreements Orders & Payments revenuLa The law that orders of the bankruptcy of the company expires after a period against the period of one year. However, you may be prompted to enter a binding agreement that you will pay a monthly fee of your income for three years under an agreement for income support. If circumstances change during a period that the agreement is in force, you may send an official notice to your receiver, so that his case be reviewed. If you do not pay your obligations, however, the Official Receiver will have the opportunity to go to court and file an order for payment against your income. In this way, the court rule on the basis of recommendations of the trustee in bankruptcy, the way you need to pay for a period of three ans.Les effects of failliteUne time you went into bankruptcy, you must close your account bank or building society account. You can open another until it was accepted by the trustee and the bank or mortgage company is possible. E ‘therefore preferable bulkhead to open an account, if you’ve already paid the faillite.INFORMATIONS – instant access account to access accounts typeInstant type may be allowed to work with a credit card. If you are interested in receiving further information concerning this op & # xe9; diet, get in touch with National Debtline on 0808 808 4000. Faillite can significantly impact your life. In reality, the people you are dealing with the general will be more careful not to pay any amount that includes the credits. If you live with a partner, you can transfer all your debts under his name to make it easier for you and the companies you’re dealing with – gas, electricity and companies ; of employment status may also be téléphone.Votre; risk of failure. To be safe, you should check the employment contract of a clause on bankruptcy. If you really want and certainly it can ask the welfare staff officer or the union. If you belong to a professional prohibiting xe0 & #; failure then you must be ready for your contract of abortion. Any job that requires you to manage your money and it might XEA; be at risk. Those working in the financial sector could lose their consumer credit, licenses, once going bankrupt. even after you are discharged from bankruptcy, is still struggling to obtain credit. Your Cre; credibility in the treatment of financial obligations is obviously destroyed. Because your bankruptcy case will remain with the agencies of reference for a period of six years. The state of bankruptcy will also be detailed in the register kept in case of insolvency of three months after & # xe8; s have been issued by it. “The London Gazette can also publish your failure in its classified section om & # XEA; infractionsAlors local.Faillite me in your newspaper is in bankruptcy, is illegal: – Take a loan of more than 500 pounds without your creditors know your state .- Use a name of another company to deceive people about your financial statement .- Act as a director of a & # xe9; without permission .- Act as liquidator. Restriction bankruptcy commandesÉtat bankruptcy must be discharged after only one year and # xe8; s has been reported. This is in accordance with the law on enterprises. Your Official Receiver, however, may ask for a restraining order for failure can last from two to fifteen years, appearing on a public register, however. For reasons that may appeal this order is your guilt and dishonesty & # xe9; in any way. If the administrator believes that you have proved “unfit” conduct, he may ask the court to issue a Bankruptcy Restriction Order. Violating the order would result in a violation pénale.Qualifications of improper conduct include: – Misleading official receiver your assets and business, two years before it went bankrupt. – Gambling .- Making business transactions in a time when you know you can not manage the debt .- Take credits that can not pay. – Give away your assets to avoid being swept by the liquidator .- Prioritize some Cre; anciers on the other .- Failure to cooperate with the Official Receiver .- Hide your assets and property, from officiel . Être escrow has issued an order restraining the bankruptcy means that you can not get the credit that is more than 500 pounds without leaving your lender of your country . You can not hold a significant position as a deputy, a local consultant, a director of a company or a trustee in bankruptcy, after the restraining order was in bankruptcy levee. AVERTISSEMENTLa order will not stop the Official Receiver to take criminal proceedings against one of your sins. If you sell products you have on the contract of sale or rental encountered false information on their loan application, your actions will be taken into consideration for the attention of the court, neither of moins.Libération failliteL’Enterprise Act of 2002, excluding lib & # xe9; ration of bankruptcy, after a period of one year. If sufficient cooperation with the curator and acting on best behavior, you can & # XEA; be moved earlier. A discharge of bankruptcy would mean that all your outstanding debts, even after your property and # xe9, if the goods have been sold will be removed in order to make a new example départ. Yes, it went bankrupt on April 1, 2004, will be discharged from bankruptcy on April 1, 2005, unless it is closing tôt.AVERTISSEMENTLes instructs the bankruptcy rules on the dice applies only to first timers. If you have had previous petitions for bankruptcy or your automatic discharge has been suspended, this can take longer than expected. Do not keep a friendly relationship with the Official Receiver may also extend souffrances.Si you want a certificate for your release, you may ask the court to issue one, but it will cost £ 60 . 00 on your premium. Also, if you want to apply to have your bankruptcy annulled, it may well do so until all of your financial commitments have been payés.Solutions alternatives to failliteIndividual volunteer ArrangementsUne individual voluntary arrangements or IVA is , a formal agreement between the debtor and County Court is to avoid bankruptcy. You can set an amount to be paid for your CR & # xe9; anciers consciously or monthly and pay them in full. file a VAT, you will need the help of an insolvency practitioner to act as middle man. It is generally expensive to hire a professional failure. To request an initial meeting where you can go, if the filing of an IVA is appropriate in your case or is no longer suitable. In this way, it is possible and be sure that every cent they pay is worth it. Names of the receivers may be obtained from local offices of the court or receivers officiel.Le insolvency professionals preparing the proposed payment scheme that depends on your skill. If the creditors agree to the terms set out in your VAT, the agreement is in place. If you do not meet the conditions of your VAT for the period was in force or the bankruptcy trustee or creditors may present a bankruptcy petition against vous.AVERTISSEMENTMéfiez your commercial offering to align with the receiver bankruptcy because it requires a fee. You can very well deal with the bankruptcy trustee, without having to go through a tiers.FICHE INFORMATION – Individual Voluntary ArrangementsSi you need more information about individual voluntary arrangements, you can contact the National Debtline on 0808 808 4000.Fast single track Agreements volunteers (FTVA) This is another alternative that can be sorted. On FTVA is used for your failure already annulled by submitting a payment plan with your creditors and hope against hope that I agree with it. This arrangement is much more attractive to creditors because they can be better paid under FTVA what would faillite.Au instead of the liquidator, the liquidator FTVA works directly to put in place. FTVA is much more convenient than the AVI to organize because the fees and costs set s are lower. If you fail to adhere to FTVA then it is implemented, the official receiver will be a different way to make you bankrupt nouveau.AVERTISSEMENT – Fast Track Individual Voluntary balance ArrangementsMise the ways in which a FTVA could work for or against Your advantage is important before s’ tackle this road. If you choose to have an organic law on your behalf instead of the receiver, you may consider a plan of debt management for free. This makes XE7 & #, but you can design financial reimbursement plan for your unsecured debts garanties.COMTÉ EXPENDITURE JUSTICEDOIS I pay a fee for an application in the County Court? Each transaction with the Court of the county usually requires court costs. If you feel unable to pay fees for performance, you can send an EX160 or form “Request for exemption or relief” with the main application. If the court accepts the application for exemption, then you do not have to pay a fee. However, if you paid a fee when you are free, you can petition the court to waive or refund the amount paid. You can do so within six months after the payment was effectué.EXEMPTIONSLe court granted exemptions from payment of fees for deserving people, who are on benefits. If you are on income support or income basic allowance for job seekers (ACC), it can be automatically waived. This also applies to those working on tax credits. If you are on the tax credit for children or if you received the disability or severe disability element of your business tax, you may qualify for an exemption. That, regardless of your gross annual income taken into account for working tax credit is more than £ 14,600. To benefit from both is necessary to submit documents of remarkable, and shows that you are the advantages mentioned above. If your case does not fall under two, you can ask your fees paid to be exempt under the domain of R & # xe9; mission.REMISE DESS court costs shall be “an undue financial hardship, have qualified for the delivery of files, that your fees paid will be refunded. This may occur in exceptional circumstances which should prove that they are unable to pay extra for your inquiry. To request a refund, & # xe8; must submit a list of your personal budget, income and expenses. You must submit evidence that your current financial situation makes it impossible to pay, without having to go, but “the financial difficulties & # xe8; res excessive. “In considering your petition, the Court may repay all or part of the price paid depending on how you feel you can afford.