Voluntary Bankruptcy
What is the cheapest way to file for bankruptcy in the UK?
I have a client who is heavily in debt – to the extent that a voluntary agreement with creditors, it seems unlikely to make sense – I searched in Google the problem, but I'm just coming up with free advice "to companies that want to sell services – voluntary agreements, negotiations, etc. I need to know is whether you can declare yourself bankrupt and what is the cheapst approach? I am a consultant and have no financial knowledge to answer this and it sounds lame, in my ears, say – go see the CAB … informed help out there? thanks in advance
I think you need to refer to your client to these sites: http://www.thisismoney.co.uk/help-and-advice/advice http://www.adversemonkey.co.uk/credit-problems/bankruptcy.htm – banks / article.html? in_advicepage_id = 100 & = 395 884 & in_article_id in_page_id = 90 It appears that your client simply has to go to your local court to do this without lawyers involved. It seems that the only cost is the court fees on the 3rd anniversary of the declaration of bankruptcy and even court fees can be waived if you are in income support. Sounds very low cost to me. I hope that his client is fine – can not be easy to have a heavy financial burden.
Rep Brad Miller Testimony before the House Judiciary Committee
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