Up to date information regarding credit and debt issues.

Moderators: TalbotWoods, JaneClack

User avatar
By TalbotWoods
#424813 It has now been confirmed that the repeal of the early discharge provisions for bankruptcy are going into the Insolvency Rules effective from Oct 1st 2013.

This will mean everyone made bankrupt after that date will then have to go the full 1 year until automatic discharge - assuming discharge is not suspended for some reason - instead of the previous situation where many cases where discharged early, sometimes after only 5 months or so.

Though this is not a retrospective change, that is one that does not effect people already bankrupt, we strongly suspect that it is unlikely that anyone who entered into bankruptcy before this date will receive early discharge.

[Sources:
a. http://www.legislation.gov.uk/ukpga/2013/24/schedule/21
b. http://www.legislation.gov.uk/uksi/2013/2135/made]