Restrictions involve your personal and business life and include, but are not limited to, the following:
- Having to inform potential lenders of your Bankruptcy Restriction Order if you’re seeking credit in excess of £2,000 (either singly or jointly), or you’ve incurred debts in excess of £1,000 since being made bankrupt, and are seeking any amount of further credit.
- Not taking office as a local authority member
- Not acting as a company director or taking an indirect role in forming, managing, or promoting a company, without express permission from the courts
Breaking these restrictions is a criminal offence, and can result in a prison sentence.
Bankruptcy Restriction Order during or after discharge
A Bankruptcy Restriction Order can be made during or following your discharge from bankruptcy. The Accountant in Bankruptcy will let you know in writing about the potential BRO, and you have 14 days in which to respond.
If you feel it is incorrect you should let the Accountant in Bankruptcy know in writing, and include any evidence to support your case. This will then be investigated, a decision made as to whether to impose bankruptcy restrictions on you, and for what length of time.
If a Bankruptcy Restriction Order is imposed, it will be added to the Register of Insolvencies (RoI) - a public register that is free to access via the AiB website.
