Bankruptcy Advice and Support

Bankruptcy Records – How They Affect You

One of the serious consequences of becoming bankrupt is that you can expect bankruptcy records to be kept on you for at least a 12 month period. But this can be extended to 15 years if the Official Receiver believes further restrictions should be placed on you.

This is one of the reasons why bankruptcy should only be viewed as a last resort.

With our debt help you may well find that an IVA (Individual Voluntary Agreement) or another debt solution could be a better option for your particular circumstances.

Future Implication

If you do go bankrupt, your bankruptcy will appear on your credit file for six years.

So, for example, if you apply to a credit card or loan company within that six year period, they will be able to see from their credit search that you have been bankrupt.

Clearly this could have a serious bearing on whether they agree to provide you with any services.