It is extremely important to note that when you apply for bankruptcy, your accounts will be frozen. This means you will not be able to access your money. So before you apply for bankruptcy make sure that you have enough cash to live on whilst the proceedings take place.

If you decide you want to go bankrupt you will need to ‘petition’ the court for a bankruptcy order. When you make this application you must apply to the correct court.  It is easy to research which court you need to apply to, but if you are confused, if you get in touch with your local county court they will be able to direct you to the right place. Most individuals will find that they have to apply for bankruptcy at the court which is local to the region they have lived in for the past 6 months. This is not always the case though so do ensure you contact someone for help if you are confused. If you live in London you will have to go to the High Court. Please be aware that it is not the case that all courts deal with bankruptcy. Only some courts deal with bankruptcy.

Once you have found out which court you need to go to, you will have to deal with a number of payments. Going bankrupt will cost you money – up to £700 and sometimes more. The management fee for going bankrupt is £525. A court fee will also often have to be paid, of £175 depending upon your situation. To find out whether or not you do have to pay this fee you will have to get advice from the court. You cannot go bankrupt if you cannot pay these fees. However, if you do not have the money, sometimes a charity may be able to pay your fees for you. If bankruptcy is too expensive an option for you, you may wish to consider an alternative – such as applying for a debt relief order.

You will need to fill in two forms. These forms will have to be completed and sent to the court. Sometimes the court will require two copies of each form. These are easily accessed on the government’s website. The relevant forms are a ‘Form 6.27 – Debtor’s bankruptcy petition’ and a ‘Form 6.28 – Statement of affairs’. You will also be able to access guidance on the website to help you fill in these forms correctly. If you need any further advice about bankruptcy, there are a lot of helpline which provide specific debt advice services. The Citizen’s Advice Bureau may also be able to help you. Finally a lot of people decide to instruct a lawyer to help them with their bankruptcy. Get in touch with Roskell Davies today if you need legal advice regarding bankruptcy.


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