What is the individual insolvency register?
There is a public insolvency register available free of charge. This means if you have declared bankruptcy, have an individual voluntary arrangement (IVA) or are party to a debt relief order (DRO) within England and Wales, your name, address and birth date will be public knowledge. This information is available for the public to access because the insolvency services say that, by law, it has to keep a public register of such information. This is used for purposes such as debt recovery, employment screening and checking an individual’s creditworthiness.
Many people are not aware of this public feature. Available at LINK: https://www.insolvencydirect.bis.gov.uk/eiir/
Hopping onto this site and typing in an individual’s forename and surname will give you results of any insolvencies registered against that individual. Don’t concern yourself if it’s a common name, once you search using the above link a list of names identical to the one you typed in will appear. Along with their DOB and the local authority who issued their insolvency. From this information, you should be able to find information on the certain person you are seeking. At this point, it will also inform you what form of insolvency proceeding they undertook, Bankruptcy, IVA or DRO. You can also issue this search on a company using their trading name (for sole traders).
Bankruptcy and Debt Relief Order restrictions
The insolvency register will also allow you to search for further restrictions within an individual or company’s bankruptcy or DRO proceedings for the past three months. This means you can find out if the terms of their agreement have been broken. If this is the case the individual will be issued with a Bankruptcy Restriction Order (BRO) if they are undertaking bankruptcy proceedings and a Debt Relief Restrictions Order (DRRO) if they are undertaking DRO proceedings.
Further to this, if an individual has been issued with restrictions to their bankruptcy or DRO you can find:
- individuals subject to restrictions
- How the restrictions will be implicated
- The details of the individual’s misconduct
This public information can be found here: LINK: https://www.insolvencydirect.bis.gov.uk/IESdatabase/viewbrobrusummary-new.asp and is updated on a weekly basis.
How long will an individual’s or company name remain on the insolvency register?
If the individual undertook bankruptcy proceedings their name will remain on the insolvency register for a further three months from the date of their bankruptcy discharge. If it is in relation to an IVA their name will remain on the register until the individual has completed their IVA, if it has been revoked or if it has failed.