Can I still owe money after bankruptcy?

If you declare yourself bankrupt all of your unsecured debts will be written off. You will no longer owe these debts after your bankruptcy has finished.

However you need to remember that some debts are not written off by bankruptcy. Secured debts can not be included in the bankruptcy process which means that you will still owe your mortgage and any other loans secured against your home or other property even after you are bankrupt.

In addition any debt you have such as Student Loans Company debt, CSA arrears and Court Fines cannot be included in bankruptcy. These debts will still exist after your bankruptcy is finished and you will still have to pay them.

What if one of my creditors is still chasing me after I go bankrupt?

If you have been declared bankrupt then all of your unsecured creditors are bound to the terms of the bankruptcy. This includes any unsecured creditors which existed at the time you were declared bankrupt but may not have been included in your original bankruptcy application form for any reason.

As they are bound by the terms of the bankruptcy legally speaking you are simply not allowed to pay these creditors directly and they are not allowed to try to continue to collect money from you personally. They must conduct all further negotiations through your Official Receiver.

If an unsecured creditor is still contacting you directly for any reason after you have gone bankrupt you can be reassured that they are no longer allowed to take any action against you to collect their debt. You must report them straight away to the official receiver who will deal with them on your behalf.

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