Why the client needed our help
Following what turned out to be negligent advice from someone claiming to be a professional adviser, our client had opted to make themselves bankrupt. He was vulnerable at the time and had panicked but now realised that it had been the wrong thing to do because his assets were actually worth more than his liabilities and the debt he had been worried about had since gone away. He didn’t know what to do next and wanted our help.
How we helped
We advised our client to apply for a rescission of his bankruptcy. While the recent introduction of COVID-19 restrictions made this difficult at first (the official receiver’s office was closed and communications were limited), we eventually managed to make the application. The matter was then taken to a hearing where the judge granted an order for the bankruptcy to be rescinded. We then set about persuading the professional adviser to repay our client the money they had wrongly taken from him which they did without us needing to issue court proceedings.
As a result of all this, our client was free of bankruptcy and the many implications that come with it. His record and credit file were cleared, and his credit rating restored. And he got his money back. This was a great outcome for him.