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   What Happens In Bankruptcy
 

The information on this page is for general guidance only. If you are considering bankruptcy or legal proceedings have been taken against you, you should seek tailored financial advice from a Debt Plan Direct adviser.

Normally any bankruptcy proceedings occur at the High Court in London or a county court near to where you trade or live.  It is possible to have a bankruptcy petition to be presented against you even if you are not present in England or Wales at that time. This can happen when:
  • you normally live in, or within the previous 3 years have had residential or business connections with, England and Wales; or
  • you owe money or income tax for any business you carried on in England and Wales before you left the country.
 
If you are voluntarily making yourself bankrupt you will need to contact a county court. Staff at the county court will tell you the name, address and telephone number of the county court where you should present your petition.
 
The cost of the bankruptcy will be £50 as a court fee along with £250 towards the cost of the administration of your bankruptcy by the Official Receiver.
 
Once the bankruptcy order has been made, it is advertised in "The London Gazette" (an official publication which contains legal notices) and in a local or national newspaper (or both).
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