Regardless of which route you enter bankruptcy, you will have certain obligations to meet:
Full Administration
In a bankruptcy through Full Administration you will not be discharged until at least 12 months from the date of your award of bankruptcy. Your discharge is dependent on your co-operation, therefore if you have not co-operated with your trustee your discharge can be deferred indefinitely. After your discharge you must:
- continue to pay your Debtor Contribution Order;
- provide your trustee with information on your current financial affairs every six months until your Debtor Contribution Order has ended;
- keep your trustee informed of any changes in your circumstances, for example, if you move home or financial circumstances change;
- co-operate fully with your trustee at all times.
Your trustee will not be discharged from acting until they have completed the administration of your bankruptcy. This could mean selling your home or other assets you own.
Failure to co-operate with your trustee can result in consequences for you, such as a Bankruptcy Restriction Order.