Author Topic: L.I.L.A CAN i GO BANKRUPT FOR 100 POUND?  (Read 1282 times)

portreechick

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L.I.L.A CAN i GO BANKRUPT FOR 100 POUND?
« on: Apr 19, 2012, 03:59:21 PM »
Hi I was wondering if anyone knows if I could go bankrupt for around 100 pound instead of the 600+ pound? Ive heard that if I have low income low assets then I can go bankrupt for 100 pound! Anyone can help that be great. Thanks. Portreechick.

James Falla

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Re: L.I.L.A CAN i GO BANKRUPT FOR 100 POUND?
« Reply #1 on: Apr 20, 2012, 03:06:52 PM »
Hi there portreechick. Are you living in Scotland? If so, then in order to declare yourself bankrupt you need to apply for a Certificate for Sequestration (bankruptcy in Scotland). This will cost £100 payable to the Accountant in Bankruptcy (AiB). If you are living in England and Wales then you have to use the rules for these countries. In England an Wales if you want to declare yourself bankrupt this will cost £700. Alternatively if your debts are lower than £15000 and you are on a low income you might be eligable for a debt relief order which costs £90.
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