Bankruptcy restrictions

Bankruptcy restrictions are rules that limit what someone can do after they declare bankruptcy. They are designed to prevent abuse of the system and encourage responsible financial behavior. These restrictions may include limits on borrowing money without permission, participating in certain business activities, or holding director roles in companies. The goal is to give individuals a fresh start while maintaining transparency and accountability. Typically, these restrictions are temporary and are lifted once the individual has fulfilled their bankruptcy obligations and a specified period has passed.