A bankruptcy petition is the ultimate legal threat against an individual who owes you money. But great care needs to be taken to get them right. Let our expert team help
If an individual owes more than £5,000 and they have failed to repay the debt, a creditor may be able to make an application to declare that individual bankrupt.
- a bankruptcy petition is an application for a bankruptcy order to be made against an individual which a creditor can present to the court on the grounds that an individual is unable to pay their debts;
- whilst there are other ways to try and recover monies that are owed to creditors by an individual, it may be that those methods have yielded no results.
If a bankruptcy order is made following the presentation of a bankruptcy petition, the individual’s assets may be taken and sold to pay off the debt owed to creditors.
Our expert team of bankruptcy petition solicitors at Francis Wilks & Jones are here to help you with any bankruptcy questions. Our knowledge of bankruptcy orders is second to none having dealt with hundreds of them over the years. Our practical daily experience and legal expertise means that we can assist whatever the nature of your bankruptcy petition claim.