Bankruptcy Records

Declaring bankruptcy & the Insolvency Register

It is important to know how your bankruptcy is recorded along with what details will be kept, how long for and how you can search for them. Firstly, details of your bankruptcy will be kept if you are bankrupt at the time or if you have been bankrupt within the last three months. The records will show details of any current individual voluntary arrangements (IVAs), fast track voluntary arrangements (FTVAs) as well as any current bankruptcy restriction orders (BROs) and bankruptcy restriction undertakings (BRUs). You can obtain this information by either searching online or by visiting your local official receivers office. To search online you will need to visit the Insolvency Service website and by navigating through the relevant links you will access information quickly and easily on the bankruptcy records register.

Once you have located your records you will find various details on your bankruptcy. This will include brief information on yourself such as your name, your date of birth, last known address and your occupation. They will also contain details of the current bankruptcy order, the automatic discharge date or the date that you were discharged. If you have a voluntary arrangement the records will contain information including your name, your address and all the details of the arrangement. For bankruptcy restriction orders the information will include your name, date of birth, address and occupation details.

You should also be aware of the details that are not kept on your bankruptcy records. For example there will not be any information on any disqualified directors, company insolvencies, insolvencies in Scotland and Northern Ireland or any cancelled or withdrawn bankruptcy orders.

Bankruptcy records are not permanent and will stay on the register for only three months after you have been discharged. Records will also be removed if the bankruptcy order has been cancelled or a voluntary arrangement has been agreed or if you have paid your debts off. With IVAs and FTVAs the records will stay on the register until they have been completed or withdrawn and with BROs and BRUs the records will stay on the register until they are completed, cancelled or expired.

Bankruptcy in the UK

To hear the words ‘bankruptcy’ in the UK a decade ago would be frowned upon by most. Being declared bankrupt was the very last resort and something of a rarity.

Bankruptcy solicitors

Facing bankruptcy can be a frightening experience. There are many complications involved that may leave you feeling confused and not knowing where to turn. Having a solicitor to guide you through the process can bear huge benefits.

Living with bankruptcy

Bankruptcy is the legal status that a person or organisation enters into when it can no longer pay its debts and honour its obligations to its creditors.