Being discharged from bankruptcy
Once you’re declared bankrupt, your assets will be sold off to repay your debts. This includes any property or possessions you have, as well as any money in your bank account. You may also be required to make regular payments from your income for a set period of time, which will go towards repaying your debts. Once you’ve been discharged from bankruptcy, you’ll no longer be liable for these debts and you’ll be able to start fresh financially.
It means your bankruptcy period has ended. Any debts that were part of the bankruptcy are now written off. Debts that were not included still need to be dealt with.
In normal circumstances, after 12 months.
In some situations, you may have a delayed discharge.
A primary reason for a delayed discharge is due to you not complying with the official receiver. This is why it is very important to do this, throughout the whole bankruptcy process.
If you have an Income Payment Agreement in place, they can last for up to three years and will continue after discharge.
Find out more about Income Payment Agreements
There is a good chance you will not get these back because the official receiver took these to raise money to pay your debts.
It doesn’t mean you will necessarily get them back. The decision on belongings is largely at the discretion of the official receiver.
Yes they are safe, except any money you from PPI claims before bankruptcy.
You will get ownership of your house again after three years, provided that the official receiver has not sold your share, evicted you, applied for charging order or pre-agreed with you that you will pay them from the value of your share of ownership.
Yes, and if you need a mortgage, you’ll need a certificate of discharge. It is important to get this certificate as proof you have been discharged.
£70 and £10 for additional copies.
The Insolvency Service.
You can opt for a free confirmation letter instead. The request for this is also sent to The Insolvency Service.
Your name, date of birth, current and old addresses, your National Insurance Number and any Court reference numbers.
Your details will automatically removed from the Insolvency Register after three months and any records against your property from the Land Charges Register after five years.
You can apply to get them removed sooner from the Land Charges Registry.
It costs £1 per entry.
You will have to write to each credit reference agency to let them know.
This won’t remove your record of bankruptcy – that takes six years.
Only Creditors whose debt was not covered by the bankruptcy.
Tell them to go to the official receiver or whoever is dealing with your bankruptcy, and if they are being unresponsive to the Creditors, let them know via the complaints procedure. You are no longer obliged to speak to or pay Creditors.