bankrupt

[lukey121]

If you go bankrupt how long does it last for?

[saxy_jag]

It used to be 2 years if you self-petitioned, five years otherwise. This assuming there are no complications.

[NORMANTHEDOG]

usually 5 yrs

[Oneeyedvic]

The previous answers are somewhat dated information.

If you go or have been made bankrupt since 1st April 2004, bankruptcy now only lasts for 1 year. (This is an automatic discharge - and applicable if you have carried out your duties under the insolvency act).

The fact that you have been made bankrupt will however remain on your credit file for 6 years.

[themas]

To add to Vic's answer, if you are deemed to have committed some bankruptcy offence (for example, by not co-operating with the OR, or trading while insolvent) you can have a Bankruptcy Restriction Order and discharge can be delayed by anything up to 15 years (for really horrendous cases).

[kempie]

Some FAQs relating to The Enterprise Act 2002 in regard to bankruptcy of an individual...

http://www.insolvency.gov.uk/faq/faqeacti.htm