Frequently Asked Questions
Bankruptcy
How do I petition for bankruptcy?
The process of petitioning for bankruptcy is relatively straightforward though the consequences can be complicated. The first action you need to take is to obtain forms to complete. These forms are free of charge and can be obtained from your local County Court provided the court deals with bankruptcy. As an alternative you can also get access to the forms on line and complete them on line (see www.insolvency.gov.uk). There will be two main forms:
- The petition (Insolvency Rules 1986 form 6.27) - This is the form which allows you to request that the Court make you bankrupt and includes the reasons why you believe you should be made bankrupt.
- The statement of affairs (Insolvency Rules 1986 form 6.28) - This form will include all your assets, income and your debts. Within this form there is a declaration that you need to swear to that the details are in fact correct.
After you have completed your forms you then need to get a hard copy to take them to court keeping a hard copy for your own records. In all circumstances it is worth getting three copies of the forms as most courts will require two copies of the forms. Importantly the Court staff will take your form but will not give you any advice in relation to the form.
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?