Make yourself bankrupt
Costs involved in making yourself bankrupt
There are three fees that you will have to pay when you take your petition and statement of affairs to the High Court:
- The deposit of £525 towards the costs of administering your bankruptcy and is paid to the Department for the Economy (DfE). The deposit is payable in all cases and payment may be made in cash or postal orders, or by a cheque from a building society, bank or solicitor. Cheques should be made payable to the "Official Receiver". You can also pay online.
- The High Court fee of £144. This fee may be paid in cash or by cheque or postal order made payable to "Supreme Court Fees Account". In some circumstances the High Court may waive this fee; for example, if you are on Income Support. If you are not sure whether you qualify for a reduction in the fee or whether you are exempt from paying the fee, High Court staff will be able to advise you.
- The fee payable to a solicitor before whom you swear the contents of your statement of affairs. You should expect to pay around £7 for this service.
If you were in business as a partnership, each partner will have to pay separate fees, unless all the partners present a joint bankruptcy petition under the Insolvent Partnerships Order (Northern Ireland) Order 1995. The Department for the Economy (DfE) provide insolvency and bankruptcy forms.
The cost is the same as for an individual presenting their own bankruptcy petition. When the bankruptcy orders are made, this dissolves the partnership. All debts of the partnership as well as the debts of the individual partners are included in the bankruptcies. See further DfE guidance on winding up your own partnership.
If you are a married couple who have not traded in partnership and you are both applying for bankruptcy, you will each have to pay separate fees.