I can’t afford bankruptcy.

Written by Payplan Ryan on 20 September 2011

If you don’t have any assets or a job that is easily affected then the chances are bankruptcy is an option for you. Many people choose to avoid bankruptcy as they have a home or other assets to protect, they have a job that would be at risk or they would prefer to pay as much back towards their debts as possible. However some avoid it as they feel they cannot afford the fees.

In June this year the fee for bankruptcy rose to £700.00 consisting of £525.00 for the cost of petitioning for bankruptcy and a further £175.00 for the court fee. Due to these high costs it is no surprise that many are avoiding a suitable route because it is too expensive.

For those who are avoiding bankruptcy as they cannot afford the £700.00 fee, there is help available from a number of different sources.

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This article was checked and deemed to be correct as at the above publication date, but please be aware that some things may have changed between then and now. So please don't rely on any of this information as a statement of fact, especially if the article was published some time ago.

8 thoughts on “I can’t afford bankruptcy.”

  • david frail

    January 4, 2012 at 8:50 pm

    hi my wife works 22hrs aweek & i have been on long term sick since sept 2009 in march 10 we last our house & had a shortfall of £47000 with our other debt of £13000 we are finding it hard ,we have two children one at uni & the other signed on with connexations,
    it is going to take us for ever to find £1400 for bankruptcy , we are registered with cab

    Reply Report comment

    • Gemma

      January 5, 2012 at 9:05 am

      Hi David, I am so sorry to hear of your troubles. Try using some of our links and approach them to see if they can help with the Bankrutpcy fees. Alternatively, have you tried calling us? We are on hand to give you expert debt advice. Please let me know how you get on.

      Reply Report comment

    • vicci

      February 17, 2014 at 2:56 pm

      Came across your question I am in the same situation with a mortgage shortfall . Did you find a solution to your problem?

      Reply Report comment

      • Samuel

        February 18, 2014 at 10:15 am

        Hi Vicci,

        I will leave the comment on the website in case David responds.
        Just to alert you, we (Payplan) can help you with your debt queries and advice – You can call us on 0800 280 2816 (Mobile calls may be cheaper on 0207 760 8980) or fill in our online form: and we will call you back.
        Your local Citizens Advice bureau can also provide help and advice.

        Please do not hesitate to contact me should you require any further information or assistance.

        Thank you,

        Payplan representative

        Reply Report comment

  • Joanna Gooding

    January 23, 2012 at 3:23 pm

    If you’ve worked in a professional role or trade in the past, it’s likely there may be a charitable trust for that profession that can help you e.g. Nurse Aid if you have worked as a nurse. Try a google search and a grant search on the Turn to Us website http://www.turn2us.org.uk/grants_search/advanced.aspx

    Reply Report comment

    • Gemma

      January 23, 2012 at 3:25 pm

      Thank you for sharing Joanna, this will be very useful to many people.

      Reply Report comment

  • jason moss

    March 29, 2013 at 12:09 pm

    me and my partner (kids) got into a mess with debts because both of us separated from our partners we got together and went on a guilt trip with our six kids, and now i cant find work that will pay for our debts and normal bills. i really want to get back into work, didnt really want to go bankrupt because the stigma that go`s with it years after, and court abd bankrupty fees.

    Reply Report comment

    • Samuel

      April 24, 2013 at 4:41 pm

      Hi Jason,

      Thanks for your comments and for your query.
      The first thing you need to do is contact someone who will be able to help you with your debts. You can call us on 0800 280 2816 (Mobile calls may be cheaper on 0207 760 8980) or fill in our online form: httsp://www.payplan.com/debt-help/ and we will call you back.

      If you have any statements or any kind of information from your creditors it would be helpful in enabling us to contact your creditors, but upon initial set up of any plan we will contact your creditors to establish debt levels.

      Please do not hesitate to contact us if you require any further information or assistance.

      Kind regards,

      Reply Report comment

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