Several factors affect the length of your bankruptcy in UK. Your bankruptcy ends when you receive a discharge, the event that actually cancels your debts.

Most bankrupts in the UK are eligible for discharge after the minimum period of 12 months. Your bankruptcy will last for more than 12 months if the bankruptcy court orders your bankruptcy extended.

Here are the conditions that could prolong your bankruptcy:

Do you have surplus income?

If your income is considerably higher than the limits set by the government, it is possible that your bankruptcy will be extended for longer than 12 months.

Is this your first bankruptcy?

If you have been bankrupt before, you are not eligible for an automatic discharge from bankruptcy in 12 months. Your bankruptcy will be extended for a period of time that will be determined by a Judge or Registrar of the bankruptcy court.

Have you completed all your duties as a bankrupt person?

If you have failed to complete one or more of your duties in bankruptcy, then your discharge will be delayed. The delay will depend on the seriousness of the failure and how soon you complete the missing duties.

If your discharge opposed?

The discharge is usually granted if you are earning only enough income to keep yourself and your dependants reasonably provided for, and if you have received credit counseling.

Occasionally, creditors or the trustee Bankruptcy oppose a bankrupt’s discharge. When this happens, the matter goes to mediation or is heard before a Registrar or a Judge.


Filed under: Bankruptcy

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