Bankruptcy Orders

A bankruptcy order (known as a sequestration order in Scotland) is used to free an individual from their debts so that they can make a fresh start - albeit with a few restrictions. Any remaining assets are shared out between the people and companies who have money owed to them. The credit reference agencies are informed of bankruptcies through the Insolvency Service and/or the official gazettes.

How Long is This Data Held on Your Credit Report?

Details of a bankruptcy will remain on your credit report for 6 years from the date of the order, unless you are subject to a bankruptcy undertaking (BRU) or restriction order (BRO) that lasts longer than 6 years. However, if you have not been discharged from your bankruptcy, the bankruptcy order will remain on your credit report until it has been discharged, even if this is longer than 6 years.

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