The general rule is that you will be discharged after a maximum period of twelve months and will no longer be bankrupt. This period can be shorter should the Official Receiver complete his enquiries earlier and file a notice to that effect in court.
The duration of the bankruptcy can also be altered in the following circumstances:
- The court annuls the order on the grounds that all debts have been paid in full.
- The court annuls the bankruptcy on the ground that the original order was not appropriate.
- The discharge has been suspended as a result of failure to co-operate with the Official Receiver or Trustee. Only after the breach causing the suspension has been rectified will the twelve-month period continue.
Although you are no longer bankrupt once discharged, it’s important to note that its effects may extend much longer, affecting your credit rating, for example.