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How much does it cost to go bankrupt?

How much does it cost to go bankrupt?


It may be surprising to learn there are fees to pay when applying for bankruptcy. These are paid to the adjudicator in England and Wales or the Court in Northern Ireland,  who deal with your application.

Considering the debt solution is there to help those who are unable repay what they owe, it may feel unfair you may have to pay upfront costs.

However, if you feel bankruptcy is the most appropriate debt solution – and you are applying for it yourself – you must consider how you are going to pay these fees, and how much money you are going to need.

How much does bankruptcy cost?

The fees for bankruptcy are different for England, Wales and Northern Ireland. These costs are outlined below:

England and Wales

There is an application fee of £130 and a bankruptcy deposit of £550.

Total = £680

Northern Ireland

There is a court fee of £115, a bankruptcy deposit of £525 and a solicitor’s fee of £7.

Total = £647

If you are applying for bankruptcy yourself, these fees must be paid by you. If a creditor is applying for your bankruptcy you do not have to pay these fees.

If you are living in Scotland, the equivalent of bankruptcy is sequestration (Scottish bankruptcy). This has a fee of £200 that must be paid in full on application.

When do bankruptcy costs need to be paid?

Bankruptcy fees, £680 in England or Wales and £647 in Northern Ireland, must be paid up front – the application will not be approved until all of the fees have been paid. You can pay in instalments but they must all be completed before the application can be sent for approval.

How can bankruptcy costs be paid?

If you apply for your bankruptcy online, you click the ‘make a payment’ button on the Gov.uk website and fill in a payment form with your bank account details – the money will then be taken directly from your account.

As noted above, you do have the option to pay your fees in instalments – the minimum online payment is £5.

If you wish to pay your bankruptcy fees using cash, you must pay the whole amount in one go – it cannot be paid in instalments. To pay using cash, simply visit any Royal Bank of Scotland branch and speak to a representative there who can help you make the payment.

What is a bankruptcy deposit?

A bankruptcy deposit is a contribution to cover the cost of all the admin that goes into processing and completing a bankruptcy.

Can you get any help with bankruptcy fees?

We understand you may find it difficult to find the funds to pay for your bankruptcy.  A charity or grant may be able to help you pay your fees. Use the Turn2us grant search tool to see what help is available and the types of support you can apply for.

Other fees you may have to pay when you go bankrupt

Once the initial costs are out of the way, it’s important to know that there may be further fees and charges while going through bankruptcy.

These additional fees may occur when you have to sell your home or other valuable possessions and could be taken from your assets or any spare income you may have.

Some examples of additional bankruptcy fees can include:

  • The cost of selling your home, including estate agents’ fees.
  • Official receiver’s fees.

It’s worth noting if you have no spare income or your assets don’t cover these costs then you will not have to pay them. Your bankruptcy application fee and deposit are the only fees you must pay when entering this insolvency solution.

Bankruptcy can help offer you a fresh start. Speak to a member of our team here at PayPlan today on 0800 316 1833.

We can help you take the next step towards relieving yourself of debt and getting back to living again.


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