If a debtor is refusing to repay the money they owe you, bankruptcy proceedings might be an appropriate option. Taking this serious step to recover money requires an experienced solicitor who can ensure the resolution is suitable, cost-effective and as quick as possible. Our bankruptcy solicitors specialise in this form of litigation and we can take the matter out of your hands, no matter how complex.
Pragmatic legal advice, tailored to you
The private litigation team at Blaser Mills Law has a great deal of experience in bankruptcy law. We’ve helped our clients issue bankruptcy orders to recover large sums of unsecured debts. Our solicitors often work on behalf of creditors, so we know where you stand and the strategic steps necessary to get a quick and favourable result. You can also rely on us to be resilient, which is essential for achieving an effective outcome when recovering debt through bankruptcy proceedings.
At Blaser Mills Law, we are also known for our personal approach. You will be supported by a dedicated point of contact, who will be on hand to answer any questions and guide you through the process. Our aim is to remove as much stress from the situation as we can, and to keep the matter as straightforward as possible for you. You can always expect clear, straight-talking advice from our bankruptcy solicitors.
Bankruptcy proceedings have set stages to follow, but our advice is always tailored. All bankruptcy cases are different, and we’ll base our advice on what you want to achieve and your long-term goals.
When to apply for a bankruptcy order
You can start thinking about applying for a bankruptcy order when you’re owed at least £5,000. If you are owed anything less than this amount, you won’t be able to make someone bankrupt, and we’ll need to discuss other routes with you.
Deciding to have someone filed for bankruptcy to seize their assets is a serious step that will have consequences for the person’s personal financial situation. They may face house repossession and find it difficult to get credit in the future. We will be clear about the implications of the process, so you can make an informed decision about how you want to proceed.
Navigating the bankruptcy order process
Bankruptcy proceedings follow a clear process. It starts in one of two ways. You may already have a court order for repayment but you’ve failed to recover the money, in which case you can issue the bankruptcy order straight away. Alternatively, you could begin by issuing a statutory demand, which gives the debtor 21 days to pay the debt or come to an agreement with you. This could include agreeing a debt management plan. Often, simply issuing the demand is enough of a threat to resolve the matter. However, if the funds aren’t recovered this way, you can apply for a bankruptcy order. This involves proving the debt is more than £5,000, checking for any other bankruptcy petitions made against the debtor and filling in the paperwork for court. Our bankruptcy solicitors will carry out all the searches and prepare all the documents for you. Depending on the outcome of the searches and whether or not the debt is disputed, we will advise you on how to proceed to achieve the result you want.
Alternative resolutions to bankruptcy
Recovering unsecured debt arrears can be just as efficient outside the bankruptcy court with an experienced legal adviser on your side. For example, through a mediation service you can use an impartial professional to help you come to a legally binding agreement. Another alternative is issuing a court order, rather than a bankruptcy order, which can help you recover sums owed to you.
Most clients turn to bankruptcy as a last resort. It may seem drastic, but it might be the most effective resolution to recover your money and to help other creditors do the same.
Collection of assets
Getting the bankruptcy order is a positive step forward in your case, but the process is not complete until you have recovered the funds. We offer a total solution and work with trustees who can assist with the collection of assets post-bankruptcy. This final step is crucial in making sure you recover the funds you are owed and can put the matter behind you.
Get legal advice
If you feel someone is being dishonest about their financial affairs or they are refusing to pay you, our bankruptcy solicitors can give you a clear route forward. For advice from our expert private litigation team on your situation, call us on +44 (0) 20 3814 2020, send an email to enquiries@blasermills.co.uk or fill in our contact form.