3.2 What are the conditions for someone else to make me bankrupt?
Creditors
If you owe someone money they may be able to make you bankrupt. Your creditors can ask a sheriff to award bankruptcy against you if:
- you owe them at least £3,000 - this will include any fees, interest or charges added to what you owe; and
- they have sent you a copy of the Scottish Government's Debt Advice and Information Package; and
- you are apparently insolvent. The section 'What are theconditions for applying for my bankruptcy' (pages 11-12) explains apparent insolvency. However, a creditor can alsoprove apparent insolvency if you have signed a trust deed which has not become protected or if you have formally dvised your creditors in writing that you are unable to pay your debts.
The trustee in a trust deed
If you grant a trust deed and you do not co-operate with your trustee, they have the right to ask the sheriff to make you bankrupt. They have to show that an award of bankruptcy would be in the best interest of your creditors. Further information on trust deeds is available in the AiB publication, Trust Deed Guide'.
If someone is taking action to make you bankrupt you will be notified by the creditor or trustee.