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Bankruptcy

How to file for bankruptcy?

If you file for bankruptcy yourself, the bankruptcy petition is called the Debtor's Petition. If you want to file for bankruptcy you should contact your local court. They will give you the details of your nearest county court that deals with bankruptcy hearings. If you are being forced to go bankrupt by your creditors then they will file the Bankruptcy Petition This is called a Creditor's Petition and it can only be filed by people to whom you owe more than £750.

Is bankruptcy advertised?

Yes, the bankruptcy application will be advertised in the London Gazette and the local press where you live.

Types of bankruptcy

There is Voluntarily - By the debtor themselves or Involuntarily - By the creditor owed money (£750 Minimum). The supervisor or anyone bound by an IVA.

What is bankruptcy?

Bankruptcy is a last resort once all other options have been explored. It can free you from overwhelming debts so you can make a fresh start, subject to some restrictions and we suggest you look at an alternative such as an IVA.