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Bankruptcy Orders
Banking A Bankruptcy order may be made against you by the Court following the filing of a Bankruptcy petition. This petition may be filed by any creditor owed more than £750 (a Creditor's petition) or alternatively you yourself may ask the Court to make a Bankruptcy order against you (a Debtor's petition). Once a Bankruptcy order is made you will lose control of your assets, which (subject to certain exemptions) will be sold to raise funds for your creditors.
