Bankrupt

[Sapper]

How do i declair myself bankrupt

[gammaray]

You go along to your local county court and fill in a form (and pay the court fees). Some time later you will see a judge who will declare you bankrupt. After that your local Official Receivers office will give you a date for an interview where they will discuss your financial position, assets, bank accounts etc.

Bankruptcy is, in my opinion, a last resort. If you can avoid it, by entering into a voluntary arrangement with your creditors for example, it's preferable to bankruptcy.

[jason1980]

Yes you do this through the courts.

But think about if it is really that necessary. if you owe a lot of money to companies, explain about paying very minimum payments until your circumstances change.

If you go bankrupt, it'll be tied to you forever and affect your credit rating for life.

[flipflop104]

Yep and you'll need approx �400 CASH to pay for the courts to be able to go bankrupt

[gammaray]

It's an odd state of affairs isn't it. You want to go bankrupt because you've got no money...and charge you �400 to do it.

You will however be able to get credit after bankruptcy....eventually!

[andyjevs]

Any questions you have could be answered on http://www.debtquestions.co.uk/debt_forum/

[themas]

Go to www.insolvency.gov.uk and download their booklets. Go to your local County Court and get the debtor's bankruptcy petition and explanatory notes. Study all this stuff and make sure you understand it and really do want to go ahead. Get advice - local CAB, debtquestions site as mentioned - if in any doubt.

[katie1978]

Hi
I was searching for anything about declairing yourself bankrupt and saw your question and answers. Have you done it ? Is it easy to do ?
Thanks