Length of Bankruptcy

Bankruptcy will usually last for three years

If you fully co-operate with your Trustee, the length of Bankruptcy will only last for three years, although it can be extended to five or eight years in certain circumstances.

There are a number of ways in which your bankruptcy can be extended to five or eight years; here are some of the ways this can happen.

Bankruptcy Exception To 5 Years

Make a knowing void transfer against the trustee, undervalue items
Continued to direct a business
Engaged in misleading conduct
Fail to disclose to the trustee, a liability that existed at the date of bankruptcy
Fail to notify a change of address or contact details
Fail to advise your trustee of any material change to the information disclosed on your statement of affairs
Fail to attend a creditors’ meeting without written approval from the trustee
Fail to attend an interview or examination
Fail to disclose any beneficial interest in any property.

Bankruptcy Exception To 8 Years

Make a void transfer against the trustee
Fail to provide details of property and income when requested
Deliberately providing false or misleading information to the trustee
Fail to disclose detail of income or expected income
Fail to pay contributions
Fail to adequately explain how money was spent or assets were disposed of
Fail to disclose a liability that existed at the date of bankruptcy
Fail or refuse to sign documentation when required
Failing to disclose to the trustee, a beneficial interest in a property.

Length of Bankruptcy

Bankruptcy will usually last for three years

Bankruptcy Exception To 5 Years

Bankruptcy Exception To 8 Years

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