Can you get bankruptcy cancelled?

Summary

You can apply to have your bankruptcy cancelled for any of the following reasons: * you've paid your bankruptcy debts and the bankruptcy expenses in full or have made arrangements to secure or guarantee them, for example against property that you own * if you were made bankrupt by one or more of your creditors but you think the bankruptcy order should never have been made, for example, because you owed less than £5000 or you had a different defence to the making of a bankruptcy order * your creditors have approved an individual voluntary arrangement (IVA) You can't apply to cancel your bankruptcy just because you've changed your mind about it. Cancelling your bankruptcy puts you back in the same position legally as if the bankruptcy order had never been made. However, there are some things that can't be reversed and you may also need to take action yourself to get some records changed. * you'll become liable for paying any of your debts that haven't yet been paid in the bankruptcy * you'll lose any property that the official receiver or trustee has already sold or disposed of * any property or belongings that haven't yet been disposed of will be given back to you * the record of.

Key information

• you've paid your bankruptcy debts and the bankruptcy expenses in full or have made arrangements to secure or guarantee them, for example against property that you own
• if you were made bankrupt by one or more of your creditors but you think the bankruptcy order should never have been made, for example, because you owed less than £5000 or you had a different defence to the making of a bankruptcy order
• your creditors have approved an individual voluntary arrangement (IVA)
• you'll become liable for paying any of your debts that haven't yet been paid in the bankruptcy
• you'll lose any property that the official receiver or trustee has already sold or disposed of
• any property or belongings that haven't yet been disposed of will be given back to you
• the record of your bankruptcy will be removed from the Insolvency Register five days after the cancellation
• if a bankruptcy notice has been registered against a property you own, you can apply to the Land Registry to have the notice removed
• it's your responsibility to tell credit reference agencies about the cancellation of your bankruptcy, so that they can update their records and your credit reference file
• complete an Insolvency Act application form (IAA) - you can find the IAA form on HM Courts & Tribunals Service website
• make a written witness statement, setting out the details of your debts and the bankruptcy expense. Give details of payments you've made and proof of these
• return the application form and witness statement to the court, which will then set a date for a hearing

Practical guidance

• Source: Can you get bankruptcy cancelled?

Related topics

More in this area

• Check if a financial service has followed the rules
• Check if you have to pay a debt
• Check the rules after you go bankrupt
• Check what an IVA is
• Cold called by a debt management plan provider