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Posted: Sun Jan 25, 2009 8:27 pm
by hara33
If you go bankrupt and you move into someone elses house, can baliffs come into to take your possessions as they have a claim on you for 1 year.

People advise that banruptcy only lasts for 1 year, I know this is not true, please would you confirm how long it lasts in reality?

Thanks

Posted: Sun Jan 25, 2009 10:12 pm
by MelanieGiles
If you are bankrupt, you will not suffer from bailiff's action as your debts will be discharged under those proceedings.

Bankruptcy does generally last for one year, but your credit rating is likely to be affected for six or more years.