Destroy My Debt

Summary
A discharge from bankruptcy means you are released from the restrictions of bankruptcy and it releases you from almost all of the debts you owed at the date of your bankruptcy. Any fees owed under student loan agreements or child support will remain outstanding.

In certain, unusual circumstances, the Official Receiver can appealrequest the Court for a Bankruptcy Restrictions Order. The end result being that you continue to be limited by restrictions after your release from bankruptcy for the time period stated in the Court Order. A Bankruptcy Restrictions Order doesn’t effect the discharge of your debts and you certainly can’t run from debt.

How long am I bankrupt for?
Discharges typically happen after twelve months. But the Official Receiver can file a Court notice before a year are up to state that he has finished his analysis of your finances. If accepted, youll be discharged as soon as that notice is filed. When such a notice is issued, a copy will be sent to the bankrupt to confirm that they have been discharged.

If the defendant does not co-operate with the Official Receiver or Insolvency Practitioner, then the Official Receiver or Insolvency Practitioner can petition the Court to suspend discharge. For example, if the bankrupt provided erroneous or misleading information to the Official Receiver or the Trustee.

How do I obtain my discharge?
Normally, the defendant will be automatically discharged after 12 months, regardless of how many instalments have been given to the creditors. If the bankrupt is discharged automatically, the party does not get sent any paper work to confirm their discharge unless specifically requested. Do not correspond with the Court earlier than 2 weeks before your discharge date, you should receive notification of this around 4 weeks later.

The cost for the discharge notice is sixty pounds payable to the court and further copies will cost £1 each. The bankrupt can also request the Official Receiver to advertise your discharge all the advertising expenses in advance.

You will not be eligible for an automatic discharge if your discharge period has been suspended or the bankrupt are under a criminal bankruptcy order. If you would like more details on this should get in touch the Official Receiver or have a look at some more blogs such as blogging debt advice.co.uk