Insolvencies includes Bankruptcy, Individual Voluntary Arrangements (IVAs), Protected Trust Deeds and Debt Relief Orders (DROs) etc. Each form of insolvency is completed in different periods of time. e.g. IVAs are usually completed within 5 years, whereas protected trust deeds can be completed as soon as 3 years after the date of insolvency. Despite the differences between each form of insolvency, each is reported for 6 years from the date of insolvency and are marked as discharged once its completion requirements have been met.
The bankruptcy marker will drop off your credit record after 6 years. And all the debts in your bankruptcy will drop off if they had a default date on or before your bankruptcy. The only reason why a debt in your bankruptcy doesn’t drop off when the bankruptcy goes is if the default date isn’t right.
How We Can Help?
We can check if the default dates against your debts are consistent with that of the CCJ/bankruptcy or IVA; as a default must be filed as being no later than the date of the insolvency order. If not, then we can take this matter with your lender for the rectification.
If your Bankruptcy has annulled and still showing in the Insolvency register, then we can help you take this case up with Insolvency commissioner for its deletion from insolvency register.
If you IVA has failed but it is still showing at your credit report, then we can help you to cancel the registration from the Insolvency practitioner.