From 6 April 2016, the way you petition for your own bankruptcy has changed.
You used to be able to download the relevant forms from the internet, complete them, and then file these at Court, paying the relevant fee. You would then need to attend a hearing at Court and attend before the Judge. This process clogs up the Court and therefore it has been changed so that bankruptcy ‘applications’ are now made online to an ‘adjudicator’.
Applicants will now log onto the Government website at https://www.gov.uk/apply-for-bankruptcy, complete the online forms as they would a paper form, and then this is submitted to an adjudicator. The adjudicator will then determine the application instead of the Court, and the Court will not be involved in the process at all (save in certain circumstances). The form does not need to be completed all in one go and you can log in as many times as you need to, to get it finished. The other advantage of course is that applicants no longer need to attend a Court hearing.
The fee payable is £655 and needs to be paid in full before your application can be submitted. There are grants available for those in certain situations and full information is provided on the website detailed above. There is also assistance available to help you complete the forms and again the contact details are on the Government website.
Please note that whilst the above process has changed, if you are owed money and wish to make someone else bankrupt – the process remains the same and the petition is still filed in Court as usual.
As always, when considering bankruptcy it’s important to make sure it’s the right solution for you, and to ensure that all options have been considered. You also need to be aware of the repercussions of bankruptcy on you and your family, so that you can be sure it is the right course of action.
Should you wish to discuss your affairs with an insolvency professional to see what options you have, please do not hesitate to give us a call.
Keely Edwards MIPA, Senior Administrator