Author Topic: Bankruptcy deposit  (Read 1924 times)

shocksoc335

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Bankruptcy deposit
« on: Apr 18, 2011, 08:56:41 PM »
Hi Just to let you know the deposit for bankruptcy is going up from £450.00 to £525.00 1st June.

regards
Shocksoc335
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James Falla

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Re: Bankruptcy deposit
« Reply #1 on: Apr 19, 2011, 06:42:03 PM »
Interesting Shocksoc I had not heard that. Where did you hear it from?
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James Falla

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Re: Bankruptcy deposit
« Reply #2 on: Apr 20, 2011, 06:49:10 PM »
I have now confirmed the increase from a number of sources. This means that as of the 1st June 2011, the cost for an individual to declare their own bankruptcy will be £700 (including £525 deposit and £175 court fee). This is not good news for people who are considering bankrupty.  can only assume that it will put some people off and they will now go down the alternative route of a debt management plan or IVA. I can only assume that the Insolvency Service has a financial hole that it is trying to fill.....
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kingston3d

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Re: Bankruptcy deposit
« Reply #3 on: Jun 13, 2011, 09:13:07 PM »
Helpfull post!


James Falla

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Re: Bankruptcy deposit
« Reply #4 on: Jun 14, 2011, 05:23:53 PM »
Since my last post, the Insolvency Service has issued a statement saying that they feel that fees have had to rise to try and maximise the return that creditors receive. I find that strange given that the majority of not all of the bankruptcy deposit fee paid is kept by the insolvency service and the creditors see non of it.....
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