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How long will bankruptcy last?
You will be automatically freed from bankruptcy (known as “discharged”) after a maximum of 12 months. This period may be shorter if the official receiver concludes his enquiries into your affairs and files a notice in court.
Discharge releases you from most of the debts you owed at the date of the bankruptcy order. Exceptions include debts arising from fraud and any claims which cannot be made in the bankruptcy itself (non-provable debts - see below). You will only be released from a liability to pay damages for personal injuries to any person if the court thinks fit.
When you are discharged you can borrow money or carry on business without the restrictions previously referred to. You can act as a limited company director unless you are disqualified from doing so as a result of a separate order arising out of your involvement with a company.