Bankrupt Debtor Obligation To Creditors.

[David H]

I have just discovered the builder who owes me a large sum of money was made bankrupt a year ago and I sent the material to the trustee in bankruptcy. I do not know what the procedure is when someone is made bankrupt to either declare every single debt they owe or inform all their creditors at the time.

I had to find out almost by chance a year later and as a consequence may have missed out on my chance for restitution if his assets have already been exhausted. Logically it seems unless he declares his creditors in the interview and we are informed how are we meant to find out so we can register our claims?

[Buenchico]

Section 49.31 here might be relevant but I have to confess that I've no idea as to how it works in practice:
https://www.gov.uk/guidance/technical-guidance-for-official-receivers/49-distributions

[David H]

Thank you. It is nigh on impossible to find a direct answer online but grok says a bankrupt must declare all their creditors on their form which mine didn't. I found out a later and filed my claim. Could be interesting.

[David H]

New search new answers. This seems to confirm the logical answer a debtor is obliged to declare all monies owed to them. Otherwise they could simply disappear all their other debts by keeping shtum which would be against common sense and public policy. I've pasted it here:

 

"Statement of Affairs:

As part of the bankruptcy process, a debtor is required to complete a "Statement of Affairs" form. 

Comprehensive Disclosure:

This form asks for a complete list of assets (anything that belongs to the debtor that might be used to pay debts) and all debts, including the names and addresses of creditors and the amount owed to each. 

Sworn Statement:

Once the form is completed, the debtor must make a sworn statement confirming the accuracy and completeness of the information provided, either before an officer of the court or a solicitor. 

Honesty and Accuracy:

It is crucial to declare all debts honestly and accurately, as any omissions or inaccuracies can have serious consequences. 

Debts Not Covered:

While bankruptcy covers many debts, some debts, such as student loans, child maintenance arrears, some court orders, criminal fines, debts due to fraud, and debts taken out after the bankruptcy order is made, may still need to be paid. "

[THECORBYLOON]

"If we have not contacted you, but you know an individual is bankrupt or a company is in compulsory liquidation, contact the official receiver (who works for the Insolvency Service). We’ll add you to the list of creditors and send you a report.

Contact the insolvency practitioner if you have not been contacted and an insolvency practitioner is dealing with the bankruptcy, or the company in:

administrationvoluntary liquidationcompulsory liquidation"

https://www.gov.uk/government/publications/claim-money-back-from-a-bankrupt-person-or-company-in-compulsory-liquidation-guidance-for-creditors/if-an-insolvent-company-or-bankrupt-person-owes-you-money#:~:text=If%20we%20have%20not%20contacted,reading%20our%20guidance%20for%20creditors.

[David H]

Thank you. I had already sent them my file and he was already discharged a few weeks earlier with zero assets but they said if they have good evidence they will reopen it. Now I have confirmed he failed to divulge a debt which may also be a crime (and certainly should be) I am hoping they carry out their duties.