Response to Bankruptcy threat...............how long before I know?????

You are correct in identifying this as simply a threat. As such, it carries no legal weight whatsoever. They may or may not choose to carry out the threat, and you have no way of knowing if or when. If they do issue bankruptcy proceedings, you will recognise it at once, as you will receive a Statutory Demand, which takes the form of an official court form and will almost certainly be sent recorded delivery. If this happens, follow the advice on this site regarding bankruptcy - but I agree with Mark that it would be a good idea for you to get some advice on whether bankruptcy might in fact be the best solution for you. Best of luck

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