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Alex J.
Alex J., Solicitor
Category: Bankruptcy Law
Satisfied Customers: 3653
Experience:  Bankruptcy, liquidations, administrations, pre pack sales, re use of company names and director duties and offences.
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Hi there, if I go bankrupt, would that clear my outstanding

Customer Question

Hi there, if I go bankrupt, would that clear my outstanding debt for housing benefit and council tax.. im very behind on it you see.. I pay each month. but it will take many years to pay it off...and Im in debt, so bankruptcy seems like a good option....
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  Alex J. replied 3 years ago.

Alex J. :

Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. If you go bankrupt all your debts will form part of the bankruptcy. The effect is to wipe the slate clean and after one year you will be discharged.

Alex J. :

Bankruptcy should not be ta***** *****ghtly however because it will effect your credit rating for 6 years and effect your ability to take directorships or professional appointments. Can I be of any further assistance? Kind regards AJ

Customer:

well i got bad credit anyway, so got nothing to loose really, yes thats ok.. if its only 1 year its not so bad.. yes just one more question, if i moved flats for instance.. would i not be able to rent one, cos of the bankruptcy.. or after the year.. will my credit be ok again... thanks..

Alex J. :

Hi, Thank you. Your credit rating will take about 6 years to recover all things being equal.

Alex J. :

Whether you can rent a flat or not really depends on what checks the landlord conducts - they may either require a guaruantor or just simply a larger deposit as a result.

Alex J. :

Kind regards AJ

Customer:

thanks very much Alex, ill message you back if i need any more info,:)

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