Cost To Go Bankrupt

Bankruptcy Costs

This section covers the costs you will have to pay if you want to decalre yourself bankrupt.

In England and Wales bankruptcy fees total £705.

You may have to pay 3 fees when you take your petition and statement of affairs to court:

• The court fee of £180. 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 whether you are exempt from paying the fee, court staff will be able to advise you.
• The deposit of £525 towards the costs of administering your bankruptcy. This deposit is payable in all cases.
• The fee to swear the statement of affairs. In a county court, no charge is made to swear this affidavit, which is part of the statement of affairs. But in the High Court or before a solicitor there is a £7-10 charge

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Joint Bankruptcy

If you are a married couple and you are both applying for bankruptcy, you will each have to pay separate fees. If you were in business as a partnership, each partner will have to pay separate fees, unless all the partners apply for a joint bankruptcy petition under the Insolvent Partnerships Order 1994 (Form 16). Form 16 is available from the court or a copy can be printed from The Insolvency Service website at: www.gov.uk/government/organisations/insolvency-service

The above fees should be paid in cash or postal orders, or by a cheque from a building society, bank or solicitor. Cheques should be made payable to H M Paymaster General. Personal cheques will not be accepted.

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