Searching the Bankruptcy Register Search (BRS) produces an ‘extract’ from the National Personal Insolvency Index identifying where a person is currently or has previously been bankrupt; or if, a petition has been lodged against a person in a current effort to make them bankrupt.
A Nil Result extract can be obtained where no matches are found for the criteria searched.
When to use the BRS:
- to determine if someone who owes you money is bankrupt, subject to a personal insolvency agreement or debt agreement
- before commencing action if you are owed money and are considering having the debtor made bankrupt. If the debtor is already a party to an insolvency administration, you may not be able to take further action
- prior to lodging a bankruptcy notice. A search will tell the creditor if the debtor named in the notice is already bankrupt or party to another administration
- by employers to see if a potential candidate is subject to an insolvency administration
- by lenders prior to providing finance.
Benefits of searching the BRS
- Find out if an individual is; and or has been bankrupt.
- Protect your business when providing finance to an Individual.
- Minimise risk of bad debts.
- Obtain the details of a bankrupt’s trustee.
- Make an informed decision about doing business with an individual and/or hiring new employees.
- Receive all requested extracts and invoices via email.
You will receive information on individuals that have entered into bankruptcy proceedings, which can include details such as the trustee or administrator appointed to a proceeding.
If you require a list of registered trustees and registered debt agreement administrators, a Bankruptcy Register Search (BRS) will not provide this list.