A bankruptcy can be annulled in some cases, especially if a settlement is forthcoming immediately after the bankruptcy. In fact, even if a settlement came several months after the bankruptcy, it would still be possible to annul it. In these cases, the record would be removed from your credit file and it would be as if it never happened.
Although you are discharged from bankruptcy after 12 months, the record or imprint stays on your credit file for six years and many people are anxious to avoid this. For this reason, some people are willing to settle even after they have been discharged as this will remove the record from their credit file. In these cases, the individual would get back in touch with the Official Receiver or Trustee who handled the case.
Bankruptcy UK offers assistance at all levels and will prepare and submit your bankruptcy application online. Court appearances for bankruptcy are no longer required. Feel free to call us on 01425 600129 for a chat about your circumstances.