Purely cos Im nosey and I was lugging into some talk, can someone please tell me what the deal is with going bankrupt. LT, yeah, she is declaring herself bankrupt because it only lasts for a year now. Captain, That would be my advice. So if it only lasts a year, whats to stop me taking out a huge loan pay off all my debts and go bankrupt and then start again? Would it last on your experien file for longer than the year?