Discharged bankrupt
As a discharged bankrupt you are free from your bankruptcy debts and free from the restrictions of bankruptcy. If a bankruptcy restriction order or bankruptcy restriction undertaking is in place then the restrictions of bankruptcy will continue even after discharge.
Can you get credit after discharge from bankruptcy?
As a discharged bankrupt you will certainly face challenges obtaining credit in the future. When you think about the number of services that you are credit checked for in the UK this may prove a problem.
You may like to find out about the APS credit rebuilder or visit the credit repair after bankruptcy page for more information.
If you are thinking off applying for a credit card after your discharge from bankruptcy then you may be better off applying for a prepaid credit card. Take a look at the banking facilities page for more information. You can avoid getting into further debt.
Is there a discharged bankrupt mortgage provider?
Believe it or not a discharged bankrupt in a good job actually presents a good risk to lenders although they don't always see the fact that you have no debt. They tend to focus on the fact that you have previously been bankrupt! Mortgages are available following discharge. Visit the bankruptcy mortgage page for more information.
How long until you become a discharged bankrupt?
Becoming a discharged bankrupt usually happens automatically on the first anniversary of the bankruptcy. Automatic discharge will not be possible if:
- Your discharge period has been suspended, for example because you have failed to co-operate with the Official Receiver
- You are subject to a criminal bankruptcy order.
Is there a record of your bankruptcy discharge?
The credit referencing agencies will usually pick up on the fact that your bankruptcy has been discharged. Some companies may still require a bankruptcy discharge certificate for finance related services.
Can you get early discharge?
Yes, you may be discharged from bankruptcy early if the Official Receiver files a notice at court stating that the investigation into your affairs is either unnecessary or concluded. Before the Official Receiver files this notice at court the creditors and any trustee must be given the opportunity to object.
What does discharge suspended mean?
If you do not comply with your obligations then either the Official Receiver or the trustee can apply to the court to have your discharge suspended. Your bankruptcy discharge will either be suspended indefinitely until an obligation is met or it will be suspended for a specified period of time.
Certificate of discharge from bankruptcy
To obtain a bankruptcy discharge certificate you will need to contact the court at which you were made bankrupt. A small fee will be payable.
Co-operating after your discharge from bankruptcy
Bankruptcy discharge does not release you from your obligation to co-operate with the trustee or the Official Receiver. The administration of your bankruptcy estate can continue after your bankruptcy discharge.
