How much does Bankruptcy cost?

JJKB

As the title asks.....

I've seen conflicting reports, one site sayd £250 with £120 court costs (£370 in total) and another says £350 with £120 costs (£470) so can anyone give me the definitive answer?

Thanks.

tammyfshr

its £475 but you dont have to pay £150 of that if you are on benifits.

riers_bloc

May also be worth mentioning that Citizens Advice Bureau are campaigning for financial assistance to debtors who can't even afford to petition for their own bankruptcy.

Not very helpful to you now but maybe some hope for the future.

tight_jock

£ 325 is the OR fees and £150 is the court cost although this part is means tested so if you have little or no income then you may have this fee waived.

fatbelly

Just put this link on another thread. You might as well have it here too!

http://www.hmcourts-service.gov.uk/infoabout/fees/exemption/refunds.htm

You can only get off the £150 court fee, not the £325 OR fee

shameless-about-money

tammyfshr wrote:

its £475 but you dont have to pay £150 of that if you are on benifits.

The benefits alone don't qualify - it is means-tested as tightjock says - you complete the form prior to bankruptcy and the Court decide if you qualify

fatbelly

You will be exempt from paying a fee if:

• You or your partner receive the benefit Income Support. Partner means someone to whom you are married, or in a civil partnership with; or someone who you live with as if you are married to them or in a civil partnership.
  
• You or your partner receive Pension Credit guarantee credit.
  
• You receive the benefit Income-based Job Seeker's Allowance.
  
• Either:

Your gross annual income (your income before income tax and other money is taken away) is less than £15460 and you receive Working Tax Credit with a 'disability element' or 'severe disability element';

or

Your gross annual income is less than £15460 and you and your partner receive Working Tax Credit and Child Tax Credit between you.