Bankruptcy fee to rise To £700

[integritydebt]

The Insolvency Service has just issued an Amendment Order made by the Lord Chancellor and Secretary for Justice, that from the 1st June 2011 their fee will rise to £525 per person.

This means that a person wishing to petition for personal bankruptcy must now pay a total of £700 to be made bankrupt.

The fee from the 1st June 2011 will be made up of £175 for HM Courts Service and £525 for the Insolvency Service. Total to pay on the day of the debtors petition hearing £700.

The Insolvency Service has advised that the latest fee rise is fair as the debtors should pay more back to their creditors and be responsible for their debts.

However the fee rise has been widely criticized as last year the fee rose by £90 and now this year from the 1st June it rises by £75. A total of £165 in just 14 months and a rise of approx 46%

Here is a copy of the Amendment Order which is available to download on The Insolvency Service website at The Insolvency Service Website

[golanchi]

Re: Bankruptcy fee to rise To £700

I wonder if anyone can take me through the experience of all the steps from petitioning to the final stages in bankruptcy? I mean the real nitty gritty, nuts and bolts, bits and pieces, like how the receiver deals with accumulating, verifying details-assets and how far back in time in your life to chase up disposed items such as cars, motorbikes. I guess what I want to know is not the information readily available on bankruptcy. But what is in the receiver's mind and hence on his/her hit list- i.e., the data he hold on petitioner. Any help anyone?