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Bankruptcy FAQ's

How do I declare myself bankrupt?

Go to your local county court and fill out the forms and return to the court with the fee. Please make sure you have taken advice before taking this step.

Can I keep my bank account open?

Your current bank account will be closed but there is nothing in the insolvency legislation, which prevents you opening a new account. You should tell the bank that you are currently bankrupt so they can give you a suitable account.

Can I still trade if I am bankrupt?

If you are still bankrupt you can still work as self-employed or by carrying on an existing business as long as you don’t obtain more than £500 credit. You cannot change the name of the business and trade as another name unless you tell people that you are currently bankrupt.

When will I get a discharge from the bankruptcy?

If the bankruptcy order was made on or after 1st April 2004 the automatic discharge date is one year from the date of bankruptcy.

How do I get a certificate of discharge?

You should write to the court where you were declared bankrupt quoting your most recent case details

Will I still have to repay my student loan or can it be included in bankruptcy?

Yes. Since 1 September 2004 all outstanding student loans cannot be claimed in bankruptcy.

If you were made bankrupt before 1 September 2004 you may still have to repay your student loan. You need to check with the Official Receiver who is dealing with your case.

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