Insolvency register changes

The record of a debtor’s entry in a No Asset Procedure (NAP) presently remains on the Insolvency Register for the life of the NAP (typically 12 months).  The Bill proposes to retain this information on the Insolvency register for four more years after the date of discharge to allow credit providers better access to information regarding a person’s previous credit history.  The Insolvency Register is able to be searched by any person in accordance with the Insolvency Act 2006 (Act) or regulations under the Act.

This change is proposed to apply to all NAPs entered into after the date of enactment.

For more information about this matter, please visit our NAP section.