Bankruptcy End

How Does Bankruptcy Finish?

How Does Bankruptcy Finish?

Bankruptcy lasts for 3 years and finishes automatically. You do not apply to be released from bankruptcy – it happens automatically at the end of the 3 years.
Bankruptcy can also be finished if during the 3-year period all liabilities and costs of the bankruptcy are paid, or a Part 4 Scheme is approved by a meeting of creditors.

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Further Reading: For an insight into bankruptcy we recommend our article Wages, Super, and Spending.

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