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 EXTENSION 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 EXTENSION 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
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