Bankruptcy is one way in which an individual can deal with debts they cannot pay (providing that those debts are more than £750). It can give the individual a fresh start by making sure that any assets he or she may have are shared out fairly between creditors (subject to there being no secured creditors).
The likely costs will be dependant on whether you require advice on a route to bankruptcy or whether you wish to oppose a bankruptcy order from being made. We charge on an agreed per hour rate. If you wish to petition for your own bankruptcy order then as a guide the costs will be in the region of £1,750. A significant amount of this is the deposit you must pay to the Official Receiver.
