Once the judge has declared you bankrupt, you have to hand over the entire running of your financial affairs and deals to the official Receiver the court has appointed to help you come out of the financial jam you have landed yourself into. The bankruptcy laws state that you hand over, honestly and in full, all information, documents, vehicles, properties, bank statements, a list of all your assets, a list of what and how much you owe to each creditor etc. This will enable him to formulate a way by which each of your creditors will get a little each month from bankruptcy law whatever the Receiver sees fit to sell off to help deal with your debts. For whatever period the person is declared bankrupt, the Receiver will deal with all your creditors and see to it that they do not hound you or threaten you or your family in any way. During that period, one has to adhere strictly to the Bankruptcy law that states that you cannot borrow more than a sum of 500 pounds from anyone. You also have to declare any property, asset or money you might receive from any source during that period for which you have been declared bankrupt. The official Receiver is free to use any of these assets to clear off a few of your debts at least in any way he thinks will be beneficial to you and you have no say in the matter. You have to trust that he has your best interests at heart.