Filing for Bankruptcy - The Debtors Petition

If filing for bankruptcy is your only option don't be scared. It is a relatively straightforward process, though due to it's seriousness, it is important that you explore the bankruptcy alternatives. You may be able to avoid bankruptcy and deal with your debt an alternative way.

If you have any questions about filing for bankruptcy then please feel free to ask (ask piggy).

Filing for bankruptcy in the UK is something you can do yourself by presenting a debtors petition (bankruptcy form) at the High Court in London or at a county court near to where you live. It is very important that you seek advice in advance else your petition may not be successful. The Judge will want to know that you fully understand the consequences before declaring you bankrupt.

Note: If a creditor has filed a petition against you it may still be possible to avoid bankruptcy. Seek advice, you must act quick!
See Bankruptcy advice.

The Bankruptcy Form

Filing bankruptcy requires 2 forms to be completed:

• The bankruptcy petition, which is form 6.27. The petition form is your request for bankruptcy.



• The statement of affairs, which is known as form 6.28. It is used to detail your assets, liabilities and contact details of creditors. It is also your declaration of insolvency that you will need to swear on oath.

Both of these bankruptcy forms are available free of charge from your local county court or online at the insolvency service website. The forms can also be completed online, which will help the bankruptcy process.

The Cost of Filing Bankruptcy

Unfortunately filing for bankruptcy costs.

• £345 towards the administration of your bankruptcy. This is known as the deposit and must be paid.
• £150 court fee that may not have to be paid. This is means tested.
• £7 if you swear the statement of affairs in the High Court or before a solicitor.

Each married couple pays a separate fee.

Filing Bankruptcy at Court

Once the forms have been completed and you have the appropriate fees you are ready for filing bankruptcy at court. It is advisable to contact your local county court and book an appointment.

See also Bankruptcy Court.

Filing Bankruptcy - The Creditors Petition

It is important to realise that one or more of your creditors who are owed at least £750 or more by you, and that amount is unsecured, can present a creditors petition to start the bankruptcy process.

If a creditor has started proceedings a bankruptcy order can still be made even if you do not agree.

If this is the case then seek Bankruptcy Advice immediately. You may be able to stop this action but you must act quick!