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The Bankruptcy Service Case Study Example: Bankruptcy And Self-Employment

The following bankruptcy case study is a fictitious example, designed to help you understand working situations where bankruptcy is and isn't appropriate.

My earnings have varied considerably during my bankruptcy period. Will this pose a problem?

My bankruptcy is thankfully close to ending, in a couple of months. However, the trustee for my estate requires as part of the bankruptcy process details of my self-employment earnings. The problem I have is that my earnings have rocketed recently, before returning to more normal level, and this is the period they are requesting wage details for! Can I submit wage details that shows an average for the year, or will I penalised for having to submit details for a period when I just happened to earn more than usual?

There is no need to worry about this situation. Provide full details of your earnings for the full period of your bankruptcy, and thus your varied income levels will be taken into account, and acted on accordingly. You should, to help the receiver, calculate your average monthly earnings, and submit the figure with your wage details. Your situation is nothing new, so there’s nothing to worry about. If you feel further clarification is needed, give your official receiver a call – they are there to help you through the bankruptcy UK process.

Free debt counselling and advice is also available from the Money Advice Service available at: doesn't charge a fee for its bankruptcy service, but receives remuneration from the partners that we work with in order to keep operating. Those partners must charge a fee to the customer to likewise cover operational costs, and this amount will vary depending on the solution offered, and the terms of the parner. For details of these terms, please refer to the website of the organisation dealing with your bankruptcy. Upon application with, we will forward your information on to one of our specialist debt partners. You will then be contacted, and you will be able to explain your case, and expert advice will be offered in order to ascertain the most appropriate debt solution.