Bankruptcy is a way of legally declaring your inability to pay your creditors.

You can petition for your own bankruptcy or a creditor who you owe more than £750 can petition for your bankruptcy. It costs around £150 court fee* (which could be waived if you are on income support) and around £317 administration fee* in the UK. You can contact your local court office by calling the Court Enquiries line on 0207 210 2266 or by looking under “court” in your local phonebook. You will need to speak to the bankruptcy clerk and ask them to send out the forms for you to fill out. Alternatively you can go online to www.insolvency.gov.uk to complete the forms.

* These fees are correct at time of design.
If you are married separate bankruptcy fees will apply.