Bankruptcy fees differ depending on where you live. In England and Wales the bankruptcy fee is £655. This is made up of an adjudicator fee of £130 and a bankruptcy deposit of £525.
In Northern Ireland the fee is £647, which is made up of a court fee of £115, a solicitor fee of £7 and a bankruptcy deposit of £525. If you live in Northern Ireland, you also be exempt from paying the court fee if you receive certain benefits.
How bankruptcy affects you
Bankruptcy normally lasts for a year. During this time you can’t borrow more than £500 without telling the lender about your bankruptcy and you have to tell the official receiver if your situation changes.
You may have to sell valuable assets, but you can keep the things you need for day-to-day living.
Going bankrupt is a big step to take and requires expert debt advice. If you’re considering bankruptcy, use our online Debt Remedy tool, which will provide you with the best solution to your debt problem in just 20 minutes. Or, if you’d prefer to speak to us, call our Helpline on 0800 138 1111 (free from all landlines and mobiles).
If bankruptcy is the best option for you, we have a specialist bankruptcy support team who will be able to answer any questions you have and help and support you through your bankruptcy application.