Once you file for bankruptcy, you will need to fulfill all of the following duties:
You may be required to attend at the Office of the Official Receiver (the government representative dealing with bankruptcies) or at the place set by the Official Receiver, if and when requested, to be examined under oath as to the facts relating to the bankruptcy. Most people who go bankrupt are not required to do this.
The following five videos may help you better understand the insolvency process and your available options:
If you have further questions about bankruptcy, please speak with your Grant Thornton debt professional.
The most common way for you to go bankrupt is “to make an assignment in bankruptcy”. This means you are choosing to go bankrupt.
You start the process by meeting with one of our debt professionals, in person or over the phone, for your free consultation. We will find out the details of your particular situation, including what assets you own and what debts you have. We will then explain your debt solution options to you in detail. If you then decide that you want to file for bankruptcy, you will complete our Fresh Start Workbook. Once we have the completed Workbook, we can then prepare the forms that you are required to sign. You will meet with us to sign the forms and then we will file your bankruptcy with the Office of the Superintendent of Bankruptcy. You will then be bankrupt.
While in bankruptcy, you are subject to certain restrictions:
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