Bancruptcy

[bookworm_1]

An accountcy firm is dealing with the settlement of my brothers bancruptcy, now that his home, which had a caution on, has been sold. The firm in question sent out letters to all my brothers creditors inviting them to a meeting, or to send a written proxy, now not all creditor responded to the communication, and the accountancy firm say that they will have to write to these creditord untill they respond. Is this correct or is there some kind of limit on how long or how many communications need to be sent. Are we looking at possibly years before he can finally put this behind him' I would be very grateful for any advice on how he strans in a situation like this

[funnywebsite]

There was a programme on bankrupty on Friday night, it was on Tonight with Trevor McDonald. It was saying the rules have changed and you can get cleared up quite quickly now and if you had a business which went bankrupt you can starting a new business in less than a year. I cannot remember all the details but they were saying since the law changed people are taking advantage of this new system. Somebody was so overjoyed about declaring himself bankrupt he held a party to celebrate. He owed over �100,000 now he only owes a fraction of that which will be erased after a certain period about of time. He was so happy. It turned out it is easier to declare yourself bankrupt than pay your debts. I cannot advise any further it is only a programme I was watching Friday. I was cooking at the time so was only half watching it.