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Government stings consumers as they put up the cost to go bankrupt to £600

Page last updated Friday, 26 February 2010

093-bankrupt-businessmanThe Government, through the Insolvency Service, is increasing the cost for consumers who need to go bankrupt by 25%.

For petitions presented up to the 6th April this year, in addition to the court fee of £150, you will pay £360. On or after this date the cost will be £450 plus the £150 court fee.

This means that the majority of consumers will soon have to find £600 to go bankrupt and £1,200 if a couple but those who can demonstrate that they are on benefit may be exempt or pay a reduced court fee

Interestingly, the only methods of paying the fee are either in cash, or a postal order, bank, building society or solicitor’s cheque made payable to H M Paymaster General.

Not surprisingly the Court does not accept personal cheques or credit card transactions. You can guess why.

Read Debtwizard's blog on why he feels this huge increase cannot be justified; he has some very strong points in his favour.

See the blog Bankruptcy fee to leap a massive 25%; can it be justified? No, says Debtwizard.

See Debtwizard guide to Bankruptcy


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RS (Guest) Friday, 19 March 2010

Thank you Mike and Debt Wizard for all the advice you gave. We now sleep easier at nights and all the letters and phone calls have stopped. I urge other people with mounting debts to contact Debt Wizard.

Debtwizard Sunday, 28 February 2010

SR

Really sorry to hear you are having a hard time at the moment, have you contacted anyone for some help and advice on your situation?

I have a list of firms/agencies that can help at http://www.debtwizard.com/debt...anisations

You may feel a lot better once you can see a way through.

Best wishes

Mike

SR (Guest) Thursday, 25 February 2010

I just feel like it's all doom and gloom every single day now. There doesn't seem to be any light at the end of the tunnel. All work and no play and everywhere you go, people are hounding you for money, which you haven't got, including us, as a sole trader - we are hounding people to pay us, who come up with all sorts of excuses and tactics to delay payment - it's just a vicious circle. My husband and I desperately need a break from all of this, but we can't afford that and each day is bringing more stress - something's got to give. I've had enough and just want out of it now.


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