After your discharge from bankruptcy you will be freed of the bankruptcy debts. Assets which you acquire after your discharge from bankruptcy will usually belong to you. You will also be freed of the restrictions of bankruptcy providing you are not subject to a bankruptcy restrictions order or a bankruptcy restrictions undertaking.
It is important to understand that even after bankruptcy you will have a duty to co-operate with the Official Receiver and the trustee. Any assets comprised in your bankruptcy estate may also be dealt with after your discharge.
Getting credit after bankruptcy and managing those accounts correctly will play an important role in recovery after bankruptcy. For more information see credit repair after bankruptcy.
Bank accounts after bankruptcy are available, the only question is at what price? Fortunately there are a number of products currently on the market that guarantee acceptance if you cannot find a free one. For more information go to bank accounts for bankrupts.
Many people are worried about finding a card after bankruptcy. Credit cards after bankruptcy will help you to repair your credit but clearly you will not find it easy to get one. Debit cards after bankruptcy are attainable as are prepaid cards. See the bank accounts for bankrupts page for further information.
Getting a house after bankruptcy will also prove a challenge unless you are able to make a substantial deposit when getting a mortgage. If you will need a house in the years after bankruptcy then it is important to repair your credit. See the mortgage after bankruptcy for more information.
Life after bankruptcy is different for each person. Some people feel like an enormous weight has been lifted whereas others still worry about the impact bankruptcy will have on their life in later years, getting credit or starting a business for example.
One thing is for sure, you will not have to worry about the creditors chasing you. Even if they do, you can quickly put a stop to it.