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Debtor Guide - Bankruptcy

This guide provides general advice on bankruptcy for people who have been made bankrupt

What are the consequences of being bankrupt?


Some employers do not allow people who are bankrupt to work for them, most commonly financial institutions. You should check the terms of your contract carefully or speak to your employer.

Credit rating

Credit reference agencies will record details of your bankruptcy and your credit rating will be affected for many years. It may become difficult or more expensive to get credit after your bankruptcy.

Bank accounts

Your bank may freeze or close your account and you may have to open a different bank account. Your bank may still allow you to have your salary or benefits paid into an account.

If you experience any difficulties with your bank account you should speak to your bank or a money adviser.

Service providers

Some companies, for example gas, or electricity suppliers, may have concerns about the way they provide their services to you. They may wish to change the way they receive payments from you. This could include installing a meter or setting up a pre-payment plan. You can speak to a money advisor about this.

Public records

Your bankruptcy is recorded on a public register called the Register of Insolvencies (ROI) and can be searched by anyone free of charge.

Details of your bankruptcy will remain on the ROI for one year after your trustee obtained their discharge.

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