What will it cost me to declare bankruptcy?
In order to declare yourself bankrupt there are four fees to pay:
1. The court fee of £175 In some circumstances the court may waive this fee; for example, if you are on Income Support. If you are not sure whether you qualify for a reduction in the fee, or if you are exempt from paying the fee, court staff will be able to advise you.
2. The official receiver fee of £525This deposit is payable in all cases and helps meet the official receiver's costs.
3. The fee to swear the statement of affairs In a county court, no charge is made for the sworn statement of fact which is part of your statement of affairs. In the High Court or before a solicitor there is a £7 - £10 charge.
4. Money Debt & Credit administration feeSingle Case - £500
Double Case - £750
This fee enables Money Debt & Credit to process your application for bankruptcy, carrying out the work set out and making available dedicated staff to advise and answer your questions. This can be paid by debit card over the phone or by cheque made payable to Money Debt & Credit
Money Debt and Credit Ltd, Registered in England & Wales No.05588842.
Registered Office: 45 Clarendon Road, Watford WD17 1SZ
Consumer Credit Licence Number: 0580960