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Max Lowry
Max Lowry, Advocate
Category: Bankruptcy Law
Satisfied Customers: 1457
Experience:  LLB, 10 years post qualification experience
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Hello I am out of bankruptcy. Do I need to tell anyone in

Resolved Question:

Hello
I am out of bankruptcy. Do I need to tell anyone in a professional situation that I have been made bankrupt in the last year. I realise that this will come up on a credit score but with solicitors, lawyers, business partners, business dealings etc. do I have an duty to tell them?
Thank you
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  Max Lowry replied 2 years ago.
Hi, welcome to the site. My name is XXXXX XXXXX I will help you with your question. Now you are discharged there is no duty to inform anybody you were bankrupt in the last year or any other period. Generally, if you are formally asked the question, say in an application form you must tell the truth and disclose the bankruptcy. There is however no duty to inform anybody else. With things like business partners etc if you are asked such a question you do not need to answer it but as you say credit checks can be made and the truth can come out - this would place any business partners in position where they may not trust you.
Customer: replied 2 years ago.

Many thanks. I understand that after we are discharged it still stays on a public record for another three months. I have just looked at my credit record and it doesn't show up, but does on the public records. This maybe due to OR having the incorrect address on their system. What other agencies would hold these records please?


Thanks you

Expert:  Max Lowry replied 2 years ago.
You are right. It stays on the insolvency register for three months after discharge. After this time, the only other place where the bankruptcy will be registered is the three credit reference agencies. Generally, the bankruptcy will stay on your credit file for a total of 6 years from the date of bankruptcy. The OR does often makes mistakes and gets information recorded incorrectly and this information is passed on (incorrectly to the credit reference agencies).
Max Lowry, Advocate
Category: Bankruptcy Law
Satisfied Customers: 1457
Experience: LLB, 10 years post qualification experience
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