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Bankruptcy Petition

For a debtor to petition for bankruptcy they must complete the online application on the Insolvency Services' website.

How much will it cost to make myself bankrupt?

There are costs associated with taking forward a bankruptcy solution. These vary depending on individual circumstances.

To start with, a total of £680 in costs has to be paid to file for personal bankruptcy, which is made up of a Bankruptcy deposit of £550 and an application fee of £130; these fees can be paid in instalments, however an application will not be formally made until all fees have been paid. The instalments must be a minimum of £5 per month.

The application is completed online, and there is an extensive amount of information that is also required to complete the application. If you would like a full list of all the information required please ask and we will email you the complete list.

The Insolvency Service will consider the online application, and will then wish to conduct a telephone interview to obtain the answers to any queries, or to question the applicant further before making a final decision.

If a bankruptcy order is made, the procedure that follows is similar to bankruptcy under a creditor's petition.

For a creditor to petition for the debtor to be made bankrupt, the creditor must be owed more than £5,000.

If you would be interested in getting help with Bankruptcy or would like to talk about any other financial options please call us on freephone 0808 22 22 123 or alternatively request a callback.

We offer impartial advice and will make you aware of all applicable financial solutions based on your individual financial circumstances. We will also make you fully aware of the potential costs, implications, advantages and disadvantages involved in any proposed financial solution.