Copyright 2006 The Debt Free Student
Implications of bankruptcy
Recommended bankruptcy specialists
You lose control of your assets.
You cannot obtain credit for more than £250 without the lender's permission.
You cannot take any part in the promotion, formation or management of a limited
company without the permission of the court.
You cannot act as a company director.
You cannot trade in any business under any other name unless you inform all persons concerned of the bankruptcy.
You may not practice as a Charted Accountant / Lawyer.
You may not act as a Justice of the peace (JP).
You may not become an member of parliament.
You may not become a member of the local authority.
Your credit is affected for many years after the annulment.
You cannot obtain credit for more than £250 without the lender's permission.
You cannot take any part in the promotion, formation or management of a limited
company without the permission of the court.
You cannot act as a company director.
You cannot trade in any business under any other name unless you inform all persons concerned of the bankruptcy.
You may not practice as a Charted Accountant / Lawyer.
You may not act as a Justice of the peace (JP).
You may not become an member of parliament.
You may not become a member of the local authority.
Your credit is affected for many years after the annulment.
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