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Ross Miller
Ross Miller,
Category: Law
Satisfied Customers: 1126
Experience:  Director (Litigation and Mediation) at Hilltop Solutions
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What happens if he declares himself bankrupt?

Customer Question

What happens if he declares himself bankrupt?
Submitted: 10 days ago.
Category: Law
Customer: replied 10 days ago.
Will the claim extend to his personal holdings as well?
Expert:  Ross Miller replied 10 days ago.

Yes, if someone has a debt of this magnitude and then their personal assets can be obtained to pay the sums due. A persona cannot simply just make themselves bankrupt to avoid paying debt. When someone is bankrupt their debts don't just disappear. However if they are successful in doing this the you may still get a percentage of what you are owed.

Expert:  Ross Miller replied 10 days ago.

I hope that has answered your question.

Customer: replied 10 days ago.
If his stuff is in the name of his family?
Expert:  Ross Miller replied 10 days ago.

No just the things that he owns sadly.

Customer: replied 10 days ago.
Hmm ok thank u for the information in any case
Expert:  Ross Miller replied 10 days ago.

A persons family assets cannot be removed to pay someone else debts by law. If he has assets such as a car, furnishings or even a home in his name then these would be taken into consideration.

 

I hope this information has helped.

 

I would be obliged if you could Click the 5 stars at the top of the webpage (this will not cost any extra). This will tell the website that I have responded to your question, you can, of course, continue to ask any follow up questions free of charge.

 

Kind regards

 

Ross

 

 

Expert:  Ross Miller replied 7 days ago.

 

I would be obliged if you could Click the 5 stars at the top of the webpage (this will not cost any extra). This will tell the website that I have responded to your question, you can, of course, continue to ask any follow up questions free of charge.

 

Kind regards

 

Ross

 

Expert:  Ross Miller replied 4 days ago.

 

I would be obliged if you could Click the 5 stars at the top of the webpage (this will not cost any extra). This will tell the website that I have responded to your question, you can, of course, continue to ask any follow up questions free of charge.

 

Kind regards

 

Ross