How do I go about declaring bankruptcy?

Forms

If you're thinking of declaring Bankruptcy, you will need to complete a Bankruptcy Petition form (6.27), which is your official request to the court to be made Bankrupt and a Statement of Affairs (6.28), which is a detailed assessment of your financial situation.

You can download and print off copies of the form from here, allowing you to take two copies of the forms to a local county court that deals with Bankruptcy (one copy if you’re petitioning at the High Court in London).

Fees

There are three fees you may need to pay to the court when declaring Bankruptcy:

• A court fee (currently £175), although this can be waived in some circumstances (if you’re on Income Support for example - court staff will be able to advise you).
• Deposit of £525 towards the cost of administering your Bankruptcy.

If you are married, you will each be required to pay these fees separately.

Courts

You can present your Bankruptcy petition at the High Court in London or in a county court that deals with Bankruptcy matters (www.hmcourts-service.gov.uk has a list of courts with Bankruptcy jurisdiction). As a general rule of thumb, you should take your petition to your local court (which is said to be the place where you’ve worked or lived for the longest period of time in the last six months).

Hearing

The court will hear your petition (either immediately or a time will be set for the hearing).

At the hearing, the court can do one of the following:

• Stay (put on hold) the hearing in order to obtain additional information that is relevent to your case.
• Dismiss the petition in favour of an Administration Order.
• Refer you to an Approved Intermediary if a Debt Relief Order is appropriate.
• Appoint an Insolvency Practitioner to administer an Individual Voluntary Arrangement if it is more appropriate.
• Make a Bankruptcy Order.

Once that happens, either the Official Receiver or an appointed Insolvency Practitioner will act as your Trustee in Bankruptcy. It is their job to manage your financial affairs during your Bankruptcy.

You can read more about declaring Bankruptcy and whether it is suitable for your situation in our Bankruptcy section.

Debt Advice Foundation is a registered UK charity offering free, confidential support and advice on any aspect of debt, including Bankruptcy. If you need to talk to someone about Bankruptcy or would like to discuss the alternatives, please call 0800 043 40 50. Our helpline advisors are available Monday to Friday 8am to 8pm and Saturday 9am to 5pm.