Bankruptcy Assistance Service
National Debt Relief provide advice and support for people looking to go bankrupt.
Bankruptcy can be a great way of starting afresh. When your debts seem totally out of control, so much so that you will never pay them off, bankruptcy can take away all the stress of making debt payments. We now also provide a Bankruptcy form completion service for a charge.
If you would like to talk to us about going bankrupt just call 0800 043 5135 or use the 'Ask us Anything' form on the right.
What is Bankruptcy?
Bankruptcy is a way of legally declaring your inability to pay your creditors. You can petition for your own bankruptcy or a creditor who you owe more than £750 can petition for your bankruptcy.
Bankruptcy is an option that often has to be considered when an individual cannot pay their debts as they fall due. A first time bankrupt with debts will generally receive their discharge one year after the date of the bankruptcy order (there is the possibility that in some cases the bankruptcy discharge period will be less than one year).
Although bankruptcy has a perceived stigma and is publicly advertised, it should always be considered when dealing with insolvency matters.
Pros and Cons of Bankruptcy
Do I qualify for Bankruptcy?
The best way to see if you qualify for Bankruptcy, or any of our other solutions, is to speak to one of our friendly financial experts. All advice is free and we will help you achieve your best possible solution. We strive to help you no matter what your situation.
To find out more contact us now or fill out the "Ask us Anything" form at the top right of this page.
Bankruptcy Fees
If your debts are serious enough that you are considering the prospect of going bankrupt, you need to be aware that there are charges for declaring yourself bankrupt. These being a £140 court fee and a £310 to help meet the costs of the Official Receiver. This could mean total costs of £450 which you are legally bound to meet yourself.
If you are on means-tested benefits, then you will be exempt only from the court costs of £140. This is another reason why it's so important that you get debt help and consider all other possible debt solutions such as an IVA (Individual Voluntary Arrangement) first.
We may be able to offer you alternatives or help filling out your forms.
Note: If you are married separate bankruptcy fees will apply. * These fees are correct at time of publishing.
