How Do I Go Bankrupt?

At present there are two main ways to be made bankrupt: Please check current fees at your local court

• By Debtor’s petition: This is where you make yourself bankrupt/go bankrupt yourself. To do this you must contact your local court to find out where the nearest county court filing bankruptcy is situated. At present you have to pay £150 court fee and £325 deposit to file for bankruptcy.
• By Creditor’s petition: If you owe £750 or more then they can make a creditor’s petition for your bankruptcy at a County Court.
• A bankruptcy order can still be made even if you refuse to acknowledge the proceedings or refuse to agree to them. You should therefore co-operate fully once the bankruptcy proceedings have begun. If you dispute the creditor’s claim, you should try and reach a settlement before the bankruptcy petition is due to be heard. Trying to do so after the bankruptcy order has been made is both difficult and expensive.