Once I have been discharged from bankruptcy are my assets returned to me?

Year Published: 2015

We are often asked about the effect of discharge and it appears to create a great deal of confusion. The effect of discharge is limited and simply releases you from the restrictions placed upon you while in bankruptcy as such you can be a director of a limited company or seek credit of more than £500 without disclosing the bankruptcy order. Any assets you owned at the time of the bankruptcy order vested in the official receiver (or trustee in bankruptcy) and this property is not returned to you once you have received your discharge.


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