There are certain bankruptcy restrictions; you must follow. Some of the terms you must abide by are as follows:
♦ Borrow more than £500 without telling the lender you are bankrupt.
♦ Act as a director of a company without the court’s permission.
♦ Create, manage, or promote a company without the court’s permission.
♦ Operate a business with a different name without telling people you do business with that you are bankrupt.
♦ Work as an insolvency practitioner (an authorised debt specialist).
It is a criminal offence to break the restrictions, and you must cooperate with the people managing your bankruptcy. For example, providing them with any information, they request. Restrictions last until your bankruptcy ends or is cancelled.
How we can help
Leston’s can provide generic guidance on whether bankruptcy is the best option for you, for individual guidance however we would refer you to an approved independent financial advisor who would take the lead in guiding you through the various options. For assistance simply click on the “Create a case” link at the top of this page to initiate a case.
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