Bankruptcy Register

Your financial status be in bankruptcy or IVA (ndividual Voluntary Arrangements) is no longer a secret; the Bankruptcy register now makes it a matter of public information that is available online at free of cost. A search that starts with the input of a surname provides the seeker complete information about an individual’s financial status.

Bankruptcy register or the Individual Insolvency register is a record containing details of all bankrupt or IVA individuals. This is a public record accessible by anyone through online search on the bankruptcy register’s database. The register contains details of individuals who are currently serving the bankruptcy term period or has been discharged within the last 3 months, details of individual voluntary arrangements or fast track voluntary arrangements and also information about bankruptcy restrictions order and undertakings. These registers include data of all bankruptcy or IVA declared individuals throughout England and Wales.

Information available in the Bankruptcy Register
The information included in the bankruptcy register varies depending on the financial status for which the individual’s name is currently in it. In cases of bankruptcy orders, the data that can be found in the register are the bankrupt’s name, occupation and details of his trade along with his date of birth and last address he resided in. The register will also contain bankruptcy details pertaining to the order and the future date in which the individual will be discharged from bankruptcy. If the bankrupt has already been discharged of his charges, then the future date is replaced by the discharged date. The voluntary arrangement and bankruptcy restrictions order also contain similar data that includes the name of the debtor or bankrupt, his occupation, address and date of birth. IVAs (Individual Voluntary Arrangement) additionally contains details about the arrangement made by the debtor.
Normally data regarding company insolvencies disqualified directors and cancelled or withdrawn bankruptcy orders are not included in the Individual Insolvency register. The details stay in the register depending on the type of entry. Bankruptcy details are furnished for a period of 3 months from the discharge date or till the orders are revoked or cancelled due to payment of debts. IVA and fast track voluntary arrangements are held in the register till they are terminated, cancelled or completed. The bankruptcy restriction orders stay till they are cancelled or expired.

Need for the bankruptcy register
The first thought that comes at looking at the concept of these bankruptcy register is definitely about its need. The online insolvency register is a means to provide public knowledge about an individual’s bankruptcy.
In the current world we live in, we might need to cross check the financial status of our new tenant or sometimes even your neighbour or friend who needs a loan. It is also mandatory to look into someone’s condition before you start a business with them or plan to recruit as an employee. The compelling need to know about one’s bankruptcy has been made easy through these online bankruptcy registers. These can be used for the purpose of employment screening, debt recovery and credit verification.
The registers are maintained by the Insolvency service as required by the law to provide public information of bankruptcy details. With the trend of advertising about an individual’s bankruptcy details in the local newspaper reducing due to changes in the law, has further increased the importance of these online registers.
The service displays personal details like date of birth and address along with the bankruptcy or IVA details as this can help level down on the right person in case of many search results with a common surname. But the feature also provides the option to mask an individual’s address from the register with special permission from the court for certain exceptional cases like having a violent ex-partner, etc.

Access to the bankruptcy register
The register can be checked in two ways, either online or through your local official receiver’s office. Both the ways are free and easy to check on details of a bankrupt person.
The bankruptcy register can be accessed online through the link (http://insolvency.gov.uk/eiir/). The bankruptcy register online is free to use and easy and quick to check. You can also alternatively use the link ‘bankruptcy/IVA Search’ in the Insolvency service website http://www.insolvency.gov.uk/. The online search would require just the surname of the individual to pull up the bankruptcy or IVA details.

The details can also be pulled in from the local official receiver’s office by means of an online search. For further details you can always refer the Insolvency enquiry helpline @ 0845 602 9848.
This online register caters to the list of bankrupt or IVA cases in England and Wales. In case you are interested in such a list for Scotland, you can contact the Accountant in Bankruptcy @ 0131 473 4600 and for Northern Ireland you can reach out to the Insolvency Service @ 02890 251441.

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