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Bankruptcy Restriction Archives - Bankruptcy UK



Bankruptcy Restriction Order

Bankruptcy Restriction Order

Bankruptcy Restriction orders are generally applied when an individual has not provided information that has allowed the supervisor or trustee to complete their files.

In many instances people move away after a bankruptcy, separation or divorce and survival is the priority. It can be years later that the person goes to do something and realises that there is a problem.

In the minority of circumstances it can be applied when a person is delinquent in their financial dealings and have simply no want or desire to understand the bankruptcy process or are in denial about the situation that they have found themselves in.

We are receiving enquiries from people who are considering bankruptcy for a second time and the question they ask is are they likely to have a bankruptcy restriction order if they go bankrupt for a second time.

they will not necessarily receive a bankruptcy restriction order, it will all depend on circumstances. There will always be a percentage  of people who have petitioned for bankruptcy a second time without consequence as people are often victims of circumstances beyond their control. However, where there could be a problem is if reckless or ill considered behaviour is involved. For example, another attempt at making a business venture work that had previously failed or clear evidence of gambling activity. The main reason why restrictions occur is where there has been dishonesty – hiding of bank accounts and particularly assets, undeclared foreign properties, and so on.

If you are experiencing difficulty with a bankruptcy restriction order then contact us for a no obligation consultation. In some instances we can act as an intermediary between you and the supervisor or trustee.

Bankruptcy Fraud

Bankruptcy fraud is viewed as very serious by the Official Receiver / Insolvency Service and can result in either an extended Bankruptcy Restriction or a prison sentence, or both.

The most common form of Bankruptcy fraud is where people try to hide assets, usually by not declaring foreign property interests and closing / hiding bank accounts. By signing the declaration on the bankruptcy forms, people are obliged to disclose all interests and failure to do so will result in an investigation and possible prosecution.

A Bankruptcy Restriction will result in a person not being discharged from bankruptcy for a number of years and all of the complications this brings.

Feel free to call us for a confidential chat about your circumstances on 01425 600129 or 0800 5977 977 and we will talk you through your options and how we can help you. We offer an a – z service, including the completion of all the forms and the all-important income and expenditure.



Bankruptcy UK

Bankruptcy UK