September 29th, 2011 // 1:59 am @ Gae Channells
NO! Voluntary Bankruptcy is a little different from the normal bankruptcy. I prepare all the necessary Legal Documents from the information you provide me with and they, along with your proof of income, becomes your Formal Application.
This application is signed and dated by you then sent to the Government Bankruptcy Trustee who take 1-2 weeks to process it before they write to all your creditors telling them that you have been declared bankrupt so will NOT be paying back your debt to them!
They are also reminded that, by law, they are not allowed to contact you again!
Bankruptcy lasts for 3 years and 1 day, during which time you cannot apply for any more credit!