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Bankrupt Debtor Obligation To Creditors. in The AnswerBank: Business & Finance
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Bankrupt Debtor Obligation To Creditors.

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David H | 23:24 Wed 19th Mar 2025 | Business & Finance
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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?

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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

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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.

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