Bankruptcy Petition
If you are unable to repay your debts, our firm could file bankruptcy for you. You do not have to appear in Court; what you have to do is to submit all relevant documents to us, and we will file the bankruptcy petition on behalf of you. During the period of your bankruptcy, your income will be used to repay the debt incurred only when there is surplus after deducting the necessary living expenses from it.
Annulment of bankruptcy.
If you own any assets when you petition for bankruptcy, the Official Receiver’s Office will then take control of all your assets. After the bankruptcy period, your assets would still be held by the Official Receiver’s Office. If, subsequently, your financial condition is improved and you are capable to repay the debts and redeem your properties, we could apply annulment of bankruptcy on behalf of you.
Purchasing the bankrupt’s ownership/Title from the Official Receiver’s Office
If the co-owner of your property has petitioned for bankruptcy, the bankrupt’s ownership and/or shares in the property will be taken over by the Official Receiver’s Office, no matter the bankrupt holds the property as ‘Joint Tenant’ or ‘Tenant in Common’. We could represent you to purchase the bankrupt’s ownership, in order to avoid the Official Receiver’s Office selling the property so as to repay the bankrupt’s debt.
