Bankruptcy

• Normally you will automatically be discharged from bankruptcy after three years unless you have been bankrupted in the last 15 years. If you have failed to follow the bankruptcy instructions, the Official Receiver may order your discharge to be postponed.
• Once discharged, you are usually released from the debts that you owed at the date of the bankruptcy. Debts incurred through fraud, criminal activities or fines are exceptions.
• Once discharged, any assets you acquired before the date of the discharge may still be controlled by the trustees to pay off outstanding debts. Any assets acquired after discharge may be kept by you.
• You can be made bankrupt more than once. A second bankruptcy order after you are discharged from the first may have more serious consequences. You may also be prosecuted if you fail to disclose that you had been bankrupted before incurring new debts.

Bankruptcy Association of Great Britain and Ireland
01524 64305
Assists those needing help in bankruptcy, providing information and legal advice, especially to business people facing bankruptcy.

National Association of Citizens Advice Bureaux
0207 833 2181
Provides advice, information and practical assistance on a wide range of topics including debt, social security, employment, housing, consumer complaints and legal issues.

National Debtline
0808 808 4000
Provides a national telephone helpline to help deal with debt problems throughout the UK.