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Personal Bankruptcy

You’ve no doubt had many sleepless nights worrying about your creditors and what steps they can take against you for non-payment.  We can put your mind at rest by advising fully on your creditors’ options, how these could affect you and whether bankruptcy would be your best option.  Consideration has to be given to your home, wages, bank account and other matters.  

Legal aid is no longer available to get advice relating to debt and/or bankruptcy.  We recognise that if you are struggling with debt, you need to know from the outset how much it will cost.  We therefore offer a fixed fee service, so if your debts are becoming overwhelming, why not make an appointment on a fixed fee basis.  At that appointment, if you decide to proceed with bankruptcy, we can give you our fixed fees from start to finish but payment is required up front because the last thing you need is another bill to worry about!

Currently the Court fee to declare yourself bankruptcy is £705 although this reduces to £525 if you are on a low wage or in receipt of qualifying benefits.

Individual Voluntary Arrangements (IVA)

An IVA is a mechanism that allows a debtor:

  • To settle their outstanding unsecured debts by paying a proportion of the amount that they owe to their creditors. 
  • To come to an arrangement with their creditors over the payment of their debts. 

An IVA can be used either as an alternative to bankruptcy, or as a means of distributing assets realised by a trustee in bankruptcy to a debtor's creditors.

If we consider that an IVA may be appropriate then we would refer you to an insolvency practitioner.