Head Office: Irwin & Company, Station House, Midland Drive, Sutton Coldfield West Midlands B72 1TU
Someone you owe money to (a creditor) can apply to make you bankrupt but must be owed at least £5,000 to do so.
However, If you have a debt problem you can apply for your own bankruptcy online (www.gov.uk/apply-for-bankruptcy). Your application will be considered by an ‘adjudicator’ being someone who works for the Insolvency Service who will decide if you should be made bankrupt.
A fee of £680 will be payable to make yourself bankrupt online which can be made in installments but your application will not be processed until payment has been received in full.
Within 28 days of submitting your application, you should receive notification from the adjudicator advising if you have been made bankrupt. If so a bankruptcy order will then be issued.
The Official Receiver becomes the receiver and manager of the bankruptcy estate following the order. In some cases, the Official Receiver may pass the management of your case over to a licensed insolvency practitioner.
You will be completely cleared of many debts but not damages for personal injuries; family liabilities, such as maintenance arrears; liabilities under criminal law, such as fines or frauds; student loans; and some benefits among others.
You can be discharged in as little as a year but if you have previously been made bankrupt then discharge could take longer.
You might not have to make any payments unless an income payment order is made.