What is bankruptcy restrictions for 5 years in UK?

In the UK, if an individual is declared bankrupt, they face bankruptcy restrictions for a period of 5 years. During this time, they are prohibited from obtaining credit over £500 without informing the lender of their bankruptcy status. Additionally, they may face restrictions on certain occupations, and their name will be listed on the Insolvency Register. After the 5-year period, they can typically start rebuilding their financial reputation.