Early Discharge from Bankruptcy

When the Enterprise Act came into force, the Official Receiver was given the opportunity to grant an early discharge from bankruptcy and we saw some people being discharged after 6 or 7 months. It would appear, however, that this procedure took up a lot of the OR’s time and there was some question as to whether there was any benefit to the debtor, not least because the Credit Reference Agencies continue to keep details of a bankruptcy on their files for 6 years. As we understand it, whilst some early discharges are still being granted, the procedure is under review.