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Learn about Bankruptcy
Bankruptcy should be a last resort when it comes to debt management.
Read our guides to find out if there's a more suitable debt solution for you that would mean you could avoid declaring Bankruptcy.
- What is Bankruptcy?
- What are the advantages of Bankruptcy?
- What are the disadvantages of Bankruptcy?
- What does Bankruptcy cost?
- Will you lose your house?
- Will you lose your assets?
- Could you avoid declaring Bankruptcy?
- How long does Bankruptcy last and what effect will it have on your credit rating?
- What is a Bankruptcy Restriction Order?
What does Bankruptcy cost?
You should expect to pay around £700 to be able to declare yourself bankrupt. That includes:
Unavoidable deposit
A £450 deposit - this is a deposit for the Official Receivers and is designed to cover the cost of administering your bankruptcy. This fee must be paid and is unavoidable.
Court fee
A £150 Court Fee. In some cases, it is possible to have this fee waived or reduced.
Find your best debt solution online
by phone
Our debt solution partner's qualified advisers will explain all the options available and help set up a debt solution that's right for you.
Lines open today from 8.30am
0800 077 3286
(01329 888 374 from mobiles)