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What Happens If I Go Bankrupt?

Answer

In?bankruptcy,?no bailiffs are sent out and your personal property is not taken from you. The only property the Receiver may be interested in is real property, cars, and if you may have expensive antiques or jewellery.
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Ask.com Answer for: what happens if i go bankrupt
What Happens If You Go Bankrupt?
You will have bankruptcy status for 10 years. This isn't as bad as having bad credit because you are taking the first step to trying to alleviate your debt by declaring bankruptcy. Your credit score will go down significantly and your financial records... More »
Difficulty: Easy
Source: www.ehow.com
it is your obligation to give the official receiver details of your finances, assets and creditors,look after your assets and hand them over to the receiver,tell your trustee about any new assets or income during your bankruptcy,stop using credit cards and bank or building society accounts,not obtain credit over 500,not make payments direct to your creditors .
Q&A Related to "What Happens If I Go Bankrupt"
You will have bankruptcy status for 10 years. This isn't as bad as having bad credit because you are taking the first step to trying to alleviate your debt by declaring bankruptcy
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No one except the companies knows for sure and it is not unusual. Companies have been going bankrupt since their introduction to the world.
http://answers.ask.com/Society/Government_and_Law/...
Apparently they went bankrupt and the founders were convicted of embezzlement, according to http://en.wikipedia.org/wiki/Pha.... Embed
http://www.quora.com/Pittsburgh/What-happened-to-P...
When you go bankrupt, some or all of your debts will be erased to give you a fresh
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