If you are a Bankrupt and are looking for way to cancel the Bankruptcy Order, get in touch with Corporate Financial Solutions today, we may be able to assist you in getting an Annulment.
If it is possible to reverse the Bankruptcy Order, then the sooner you act and seek professional advice, the better opportunity you have to save unnecessary costs.
How can CFS Restructuring LLP help me to annul Bankruptcy Order?
If you contact us as soon as possible, we will be able to advise you immediately if an annulment is a possibility for you. Any annulment will require the assistance of a solicitor and we will have to apply through the Court. Over the years we have worked with a key team of solicitors who are now able to act with us quickly to achieve the required result.
If we are successful in helping you have your bankruptcy annulled;
- You will no longer be Bankrupt
- The Bankruptcy will be removed from your credit file
- The assets that you hold will remain with you, including your home if you own one
Can I apply to have my Bankruptcy Annulled?
Anyone can apply to have their Bankruptcy Order annulled, but is only generally possible if;
- The Bankruptcy Order should not have been made against you in the first instance
- All of the debts that are included in your Bankruptcy proceedings are either paid for in full, of have been guaranteed to the satisfaction of the Court
- Your creditors have accepted your proposal for an Individual Voluntary Arrangement
How Do I apply for a Bankruptcy Annulment?
You will likely need the help of a solicitor and will probably have taken advice from a licensed insolvency practitioner. You will also need to apply to Court.
We have the required expertise to assist you in having your Bankruptcy annulled. Our licensed insolvency practitioners will review your personal financial affairs and advise you if you are in a positon to apply for an annulment.
If I am successful in getting a Bankruptcy Annulment what happens next?
If your application is successful, you will revert to your pre-bankruptcy status.
Will an Annulment effect my credit rating?
If you are successful in getting your Bankruptcy annulled, your credit file should not show any signs of your Bankruptcy and it will revert to what it was prior to the Bankruptcy Order being made.
What happens is my Trustee has sold some of my assets?
Whilst you were Bankrupt and you were seeking an annulment, your estate would have vested in your Trustee in Bankruptcy. If your Trustee realised any of your assets in that period, these transactions cannot be reversed and would remain valid.
Any unrealised assets will be returned to you once the annulment is confirmed by the Court.