What is the Bankruptcy and Insolvency Register (BIR)?

Here at Johnny Debt a question that often arises, will be debt be made public? So we have gathered together some information that you may find useful if you are concerned about debt and privacy:

The Bankruptcy and Insolvency Register (BIR) is a publicly available database that contains information about all bankruptcies and debt relief orders in England and Wales. This register is maintained by the Insolvency Service, which is a government agency in the UK. Here you can search the BIR

The BIR serves as a useful tool for creditors, businesses, and individuals alike. It enables individuals to verify if a person or company is bankrupt or insolvent before entering into new agreements or investments.

To access the BIR, you can either visit the Insolvency Service website or utilise a commercial search engine. You can search for an individual or a company by their name or trading name. Typically, records are removed from the register within three months after the conclusion of an insolvency case.

Here are a few examples of how the BIR can be put to practical use:

• A bank can use the BIR to assess the bankruptcy or insolvency status of a loan applicant before approving a loan.
• A supplier can use the BIR to determine whether a customer is bankrupt or insolvent prior to entering into a new contractual agreement.
• A prospective tenant can consult the BIR to ascertain whether a landlord is bankrupt or insolvent before renting a property.
• A potential investor can refer to the BIR to evaluate whether a company is bankrupt or insolvent before making an investment.
• An individual can use the BIR to gather information about the bankruptcy or insolvency of a friend, family member, or business associate.

The BIR plays a crucial role in safeguarding both individuals and businesses against financial deception and losses. It also serves as a valuable resource for assessing the financial well-being of individuals and companies.

Will My Bankruptcy be on the Bankruptcy and Insolvency Register?

Yes, in the UK, your bankruptcy will be listed on the Bankruptcy and Insolvency Register (BIR). This register is a public record that contains information about all bankruptcies and debt relief orders in England and Wales. It’s maintained by the Insolvency Service, a government agency. When you go through bankruptcy proceedings, your details, including your name and other relevant information, will be included on the BIR for a period of time. Typically, these records are removed from the register within three months after your insolvency case is concluded. This listing on the BIR is accessible to creditors, businesses, and individuals who may want to check your bankruptcy status before entering into agreements or transactions with you.

Will My Individual Voluntary Arrangement (IVA) be on the Bankruptcy and Insolvency Register?

Your Individual Voluntary Arrangement (IVA) will be listed on the Bankruptcy and Insolvency Register (BIR). This register includes details about both bankruptcy and IVAs, making this information publicly accessible. The BIR is maintained by the Insolvency Service, a government agency. When you enter into an IVA, your relevant details, including your name and information about the arrangement, will be recorded on the BIR. This listing on the BIR is accessible to creditors, businesses, and individuals who may want to check your IVA status before entering into agreements or transactions with you.

Will My Debt Relief Order (DRO) be on the Bankruptcy and Insolvency Register?

Yes, your Debt Relief Order (DRO) will be listed on the Bankruptcy and Insolvency Register (BIR). This register is a public record that contains information about not only bankruptcies but also DROs in England and Wales. It is maintained by the Insolvency Service, which is a government agency. When you are granted a DRO, your details, including your name and relevant information, will be included on the BIR. Typically, these records are removed from the register after the DRO period is over, which is usually 15 months. The listing on the BIR is accessible to creditors, businesses, and individuals who may want to check your DRO status before entering into agreements or transactions with you.

Will My Debt Management Plan (DMP) be on the Bankruptcy and Insolvency Register?

No, a Debt Management Plan (DMP) will not appear on the Bankruptcy and Insolvency Register (BIR). Unlike bankruptcy, Individual Voluntary Arrangements (IVAs), and Debt Relief Orders (DROs), DMPs are not listed on the BIR. A DMP is a less formal debt solution, often arranged with creditors to help individuals manage their debts more effectively. The BIR primarily focuses on more formal insolvency processes, while DMPs are typically not publicly disclosed on this register.

Other Information Listed on the Bankruptcy and Insolvency Register?

In addition to bankruptcy, IVAs, and DROs, the Bankruptcy and Insolvency Register (BIR) also provides information on the following:

• Administration: This process aims to rescue financially troubled companies. An administrator takes charge of the company’s assets, seeking to sell them or find a new buyer to save the business.
• Liquidation: When a company is insolvent, it undergoes liquidation, involving the sale of all assets to settle outstanding debts.
• Company Voluntary Arrangement (CVA): A CVA is a formal agreement between a company and its creditors to reduce debt repayments and make them more manageable, typically overseen by an insolvency practitioner.
• Receivership: This process safeguards a struggling company’s assets by appointing a receiver to manage and protect them from creditor claims.
• Winding-up: Winding-up is the formal process of concluding a company’s operations, with assets sold to repay debts.

The BIR is a valuable resource for anyone seeking insights into an individual’s or company’s financial status. It allows you to check if a person or company is bankrupt, in administration, undergoing liquidation, receivership, or winding-up. Additionally, it provides information on the terms of IVAs and CVAs. Access to the BIR is available online through the Insolvency Service website.

Protecting Your Privacy in Debt Solutions

When it comes to managing your financial challenges through various debt solutions, it’s natural to be concerned about your privacy. You want to ensure that your personal and financial information is safeguarded throughout the process. The good news is that Debt Management Plans (DMPs) and Full and Final Settlements, do not involve public disclosure. Unlike more formal insolvency processes, DMPs are generally private arrangements between you and your creditors, keeping your financial matters confidential. This way, you can address your debt issues with greater peace of mind, knowing that your privacy is respected and upheld.