What does it all cost me?
There are three costs that need to be paid when you become bankrupt. Two of the fees are payable to the court on the actual day, which from the first of June 2011, are a receiver’s fee of £525, and a court fee of £175. In certain circumstances, the court fee may not be required to be paid at all, depending on whether you are receiving certain state benefits or through severe hardship. We can advise you on this and complete the necessary application on your behalf, when appropriate. Our fees, which cover the completion of all the required documentation, the making of the court appointment and attending the court with you on the actual day start at £395 depending on the location and the amount of work involved. We can give an accurate quotation after speaking to you. Our fees do not need to be paid until we meet up with you at the court, so that you have the comfort of knowing that if it does not happen, then you do not pay.

Do I need help of a bankruptcy company? The short answer is no you do not, as the bankruptcy is likely to be granted, if you can complete the documentation to the courts satisfaction and have taken advice which you will be asked at the court.

However, there is much more to the service than completing the forms. We receive many calls from clients who have presented their own petitions, but then require paid help afterwards. For example, recently we have had an enquiry from a lady who became bankrupt and afterwards the examiner went through her income and expenditure and told her that she could afford to pay £85 per month for a period of three years. She could only barely afford this and contacted us for help. We went through her income and expenditure and discovered that she was not claiming for everything that she was entitled to claim for. We agreed to help her on a no win no fee basis a fee of £495, she followed our advice and was reassessed by the OR office with a new income and expenditure we completed for her and it was agreed she could not afford any payments. This saved her over £3000 had she paid out the £85 for the 36 months that was being asked of her. Ironically had she contacted us at the beginning she would still have only paid us £495, but received the full service, forms, court attendance and more importantly, after care for 12 months until fully discharged from the bankruptcy.

Another client came to us, as they had their vehicle of modest value taken away from them by the official receiver. The receiver said that as they were not working the car was not required. However, serious argument should have been put to the examiner to say that the loss of the vehicle was preventing the client from getting back into work and should be retained.

Fees paid to any bankruptcy assist company, should be self-financing, so back to the question - Do I need the help of yourselves? We will leave you to decide the answer to that.

To speak to us costs nothing; even the phone call is free and there is never any obligation what so ever. Why not call now? We are normally available up to 10pm at night and at the weekends on 0800 1696072 or for mobiles 01782 825245