What will happen after Hong Kong files for personal bankruptcy?

Legal analysis: In principle, a bankrupt's debts must be amortized by his assets and income.

Therefore, the bankrupt must immediately hand over all his assets (including overseas and local assets) to the trustee after the bankruptcy order is issued by the court. He must also inform the trustee of his income. After considering the reasonable needs of the bankrupt and his family, the trustee will distribute the balance of his assets and income to creditors to repay the debts.

legal basis: article 675 of the civil code of the people's Republic of China, the borrower shall repay the loan within the agreed time limit. If the loan term is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 51 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time.