To enter into bankruptcy voluntarily, you must petition the court by submitting bankruptcy forms and paying a fee. The court must then agree to your application for it to go ahead.

You can also be made bankrupt by one or more of your creditors, who can start bankruptcy proceedings against you to try to claim back the money you owe them. Under these circumstances, your creditors will have to pay the court fees.

If a creditor starts bankruptcy proceedings against you they will issue you a document called a ‘statutory demand’. If your creditors have issued one of these against you, get in touch with us straight away as you have only 21 days to respond before you are automatically made bankrupt by the courts.

Bankruptcy advice from CCCS

If you are worried about your level of debt and considering bankruptcy, get some free, professional advice first. We can help you decide if bankruptcy is right for you or recommend a more appropriate debt solution for your circumstances. Try CCCS Debt Remedy for an instant assessment of your situation and advice tailored to your needs.