Author Topic: Can you go bankrupt twice??  (Read 9814 times)

charlie

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Can you go bankrupt twice??
« on: Aug 01, 2007, 10:37:18 AM »
Is it possible to go bankrupt twice? What are the consequences? Will you get crucified by the Official Receiver?

Chris

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Re: Can you go bankrupt twice??
« Reply #1 on: Aug 01, 2007, 05:23:11 PM »
Yes, it's quite possible to declare yourself bankrupt twice. Providing the circumstances are genuine, for example losing your job or illness, the OR will usually be fairly sympathetic.

nutjob

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Re: Can you go bankrupt twice??
« Reply #2 on: Aug 14, 2007, 04:06:18 PM »
Hi, im a member of another debt help website. we have a member on there going BR for the 2nd time due to massive gambling debts..

She has petitioned already and is waiting for her interview with the OR...

The OR will make a bankruptcy restriction order (BRO) due to it being the 2nd time, which means you will not be discharged within the usual 12 month period...

The BRO can last anywhere up to 15 years, but are usually set for around 3-5 years...

You can read up about BRO's on the Insolvency Service website..