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Questions asked regularly and interesting questions asked elsewhere on Beat My Debt are posted here for the benefit of all.
By Beat My Debt
#697
Once you are declared bankrupt, the responsibility for paying your debts is taken away from you by the Court immediately. Then provided that you cooperate fully with the supervisor of your bankruptcy, you will be bankrupt for 12 months.

It is important to note that if you have been bankrupt in the past, the length of your bankruptcy the second time may be longer than 12 months. In some extreme cases, where it is felt you have acted recklessly or dishonestly then your Bankruptcy may last for up to 15 years.

If you can afford to do so, you will be required to make payments to your creditors for a total of 3 years from the date you are made bankrupt.