What are the effects of the Annulment of Bankruptcy process

As discussed, bankruptcy annulment can be a very positive step to take for many people. We can help you to submit an application for annulment but prior to making an enquiry, find out more on this page about the positive effects of the legal process:

Bankruptcy Annulment benefits and outcomes

·      The Insolvency Services Individual Insolvency Register

The register which can be searched by post, fax or in person at your local Official Receivers office records all bankruptcies in England and Wales.

If a Bankruptcy Order is annulled, the record of the Order will be removed from the registered immediately.

·      HM Land Registry

Bankruptcy petitions and orders are registered at the Land Charges Department of HM Land Registry.  These entries should be cancelled.   

If you own property registered in your sole name a creditors notice and a bankruptcy inhibition may have also been registered against the title to the property.  If the property is registered in joint names, it is likely that cautions/ restrictions will have been registered. A joint proprietorship restriction may also have been registered.

If you require assistance to have these removed, contact us now on:

·      Credit Reference Agencies

The Official Receiver does not send any form of notice to credit reference agencies.  If no advertisement of your discharge from bankruptcy or the annulment of your Bankruptcy Order is made, you will need to contact the credit reference agencies directly to ask them to amend their records.

·          You may require within 28 days of the Order that the Secretary of State give notice of the making of the Order:

(a) in the gazette; or

(b) in any newspaper in which the bankruptcy was advertised; or

(c) in both.

 

It is important to point out that an annulment is not automatic right, even if the debts of the bankruptcy have been paid. The granting of an annulment is at the discretion of the Court. The Court may refuse to grant the annulment if there is evidence that the bankrupt did not cooperate with their Trustee in Bankruptcy or has committed bankruptcy offences.

Before you make an application to annul your bankruptcy seek advice. We have vast experience in dealing with these applications and liaising with the Insolvency Service and Insolvency Practitioners nationwide. If not done correctly this process can prove very expensive

How to apply for annument.