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A bankruptcy petition covers the process by which an individual’s debts are dealt with through formal court action, typically where the debtor cannot pay what they owe. A solicitor in this area helps with confirming grounds for a petition, serving or filing the petition in the appropriate court, and coordinating with the Insolvency Service and the Official Receiver. They also handle creditors’ or debtors’ representations, assist with the meeting of creditors, and manage the consequences of bankruptcy for the client, including asset and income restrictions and discharge processes.
