What is undischarged bankruptcy?

Bankruptcy / Guide

An undischarged bankrupt is someone who is still going through the process of bankruptcy, which usually takes a year.

They’ll have certain restrictions placed on them, such as:

  • not being able to borrow more than £500 without informing the lender of their bankruptcy
  • not being able to hold certain positions in public office or act as a company director

Next: What happens when bankruptcy finishes?

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