No, there have been many cases where people were discharged earlier and this is especially the case as regards Pensioners, people on DLA, long term unemployed and other cases where the circumstances are unlikely to change. We have known cases where people have been discharged after just four months, but plenty of others where discharge has taken place after 6 – 7 months.
The other instance where bankruptcy will be longer than 12 months is when a bankruptcy restriction has been imposed and the individual remains bankrupt for several years. There are many reasons why this might happen, but more often than not it comes down to a lack of cooperation, incomplete disclosure or the hiding of assets.
‘Does bankruptcy always last 12 months’ is just one of hundreds of questions we’ve answered since we first started in 1998, but feel free to call us on 01425 600129 if you need more specific information or bankruptcy help. We are here to help.