Frequently Asked Questions
Bankruptcy
How much will it cost to make myself bankrupt?
Regardless of the Court you go to your fees will be the same. There are potentially three fees you have to pay. These are payable when you take your two forms of Petition for Bankruptcy and Statement of Affairs to the court.
- The first court fee to pay is currently £150. There are circumstances where the court will waive this fee if for example you are on income support or other state benefits. To understand if you qualify for a partial or total reduction in fees Court staff can give you guidance on this.
- A second fee which cannot be avoided regardless of whether you benefit from Income Support is the deposit. This is currently £335 and pays for the Official Receiver who will be responsible for administering your case. You will get this back if your case is unsuccessful.
- A final fee to pay relates to swearing the Statement of Affairs is correct. For this you may have to pay a further £7.
The above fees relate to an individual. If you are in a partnership or are married and both of you are looking to apply for bankruptcy you will have to double the fees. Similarly if you were in business each partner will have to pay separate fees.
The fees which for a couple will come close to about £1000 will need to be paid in cash or a postal order or alternatively a bank or building society cheque. Note a personal cheque will not be acceptable.
Who should I talk to before I go down the route of bankruptcy?
What are the alternatives to bankruptcy?
How do I petition for bankruptcy?
How much will it cost to make myself bankrupt?
Who will deal with my bankruptcy?