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Wrong. There's a whole section in the insolvency legislation about "preferences". In practice this means that payments to friends can sometimes be claimed back. Before you lose all those friends, get your facts straight and talk to Dodd
FAQ's

I’m bankrupt now – I just walk away from all my debts – right?

Wrong. Certain debts “survive” bankruptcy ie they do not get written off when you are declared bankrupt. These include mortgages and other types of “secured” loans, student loans, certain Court awards for “family” matters eg divorce or childcare settlements.