Bankruptcy

Business, Enterprise and Regulatory Reform written question – answered on 17th July 2007.

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Photo of Anne Begg Anne Begg Labour, Aberdeen South

To ask the Secretary of State for Business, Enterprise and Regulatory Reform what responsibilities the Official Receiver has to make clear to individuals the different options open to them in bankruptcy; and if he will make a statement.

Photo of Pat McFadden Pat McFadden Minister of State (Department for Business, Enterprise and Regulatory Reform) (Employment Relations and Postal Affairs), Member, Labour Party National Executive Committee

The responsibilities and duties of the Official Receiver are set out in the Insolvency Act 1986, which extends to England and Wales.

While there is no statutory duty on the Official Receiver to provide details of the different options available to bankrupts, all are given or sent the Insolvency Service "Guide to Bankruptcy", which includes information on alternatives to bankruptcy. In addition, leaflets informing bankrupts of their options are available in paper form and on the Insolvency Service website:

www.insolvency.gov.uk/

The "Guide to Bankruptcy" covers the possibility of a fast track voluntary arrangement. A leaflet on FTVAs is also available in paper form or from the Insolvency Service website.

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