"There was a lot of other stressful issues going on in my life at the time of the bankruptcy and I have to say without Stuart’s advice and help I don’t think I would have gotten through it as well as I have. I cannot thank Oakdale enough. I would recommend them very highly."

BUSINESS INDIVIDUALS

How to Negotiate with Trustees to Protect Personal Assets In Bankruptcy

When an individual is declared bankrupt, the trustee becomes the beneficiary of the bankrupt’s estate.” It should read. “When an individual is declared bankrupt, a trustee is appointed to manage the bankrupt’s estate.

Assets can range from anything from shares in PLC’s or private companies to vehicles, ISAs, endowments and holiday homes; basically, anything with value. By far the most common asset in bankruptcy is the home that is owned by the bankrupt party. A trustee in bankruptcy has the power to sell property owned by the bankrupt, whether it is owned solely or jointly, whether it is their main residence or a buy-to-let and whether they live in the property, with or without family, including children or elderly dependents.

If you have been declared bankrupt already and you are concerned your house or other assets are at risk, then it is important you seek advice as soon as possible.

We have a vast amount of experience in negotiating with trustees in bankruptcy and we have helped safeguard hundreds of properties.