bankruptcy cost

[angie19]

hi.we are in touch with the c.a.b,who is dealing with our debt,its spiralled out of control.so we are considering declaring bankruptcy as the only way out,we have explored all other avenues!! could someone please tell me how much it would cost,for both me and my husband please.the cost to the court?? we have been told its �500 each,then �350 each ?? any help very much appreciated. thankyou

[Buenchico]

There's a �310 deposit to initiate the court action. There are also court fees of �150 but you might not have to pay these if you're in receipt of certain benefits or if your gross annual income does not exceed �15,050.

Full details are here:
http://www.nationaldebtline.co.uk/england_wales/factshee t.php?page=01_bankruptcy

Chris

[angie19]

thanks for that is it �300 each??? then courts costs?

[angie19]

thankyou very much!!

[themas]

Bankruptcy is individual so each of you has to pay the �310. You are then assessed to determine whether you also each have to pay the �150.

Sometimes charities are able to help by paying the costs. For example, if either of you work for the Civil Service their Benevolent Fund may help, and some energy suppliers (EDF, British Gas) have trust funds that may help if you are a customer.