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UK Bankruptcy fees can be off putting for a lot of people. You will need to raise and pay the the bankruptcy application £680 fee if you want to use bankruptcy as a fresh start If you proceed without professional assistance, this fee will be the only cost and is paid when the bankruptcy application is submitted online. Unfortunately, there are no more fee remissions for those on low income or benefits, everyone has to pay the same fee.
In order to make it achievable we have structures in place that allow for monthly payments up to 4 months.
This is ideal for most clients as it gives people a chance to understand what is happening and what they must do in order to prepare for whatever implications could occur once the bankruptcy order is granted. This time is precious because it provides the perfect opportunity to get your house in order and get done what needs to get done. This will allow you to complete a series of tasks and understand what you must do and get ready for after the bankruptcy order is made.
If you are already in position with the fees available then theres no delay with the exception of you being in an IVA that hasn’t failed. In this instance you will need to fail the IVA and receive a notice of termination before the bankruptcy order can be made. This usually takes 3-4 months. In this time if required al your creditors can be made aware of the intentions.
Our team is available until 10 PM to run through whats involved in the bankruptcy application process and the fees involved.
Feel free to call us and discuss a strategy 01425 600129.