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T O P I C R E V I E W
sidjames
Posted - 10 February 2008 : 18:49:33 I am thinking of petitioning a debtor for bankruptcy. Does anyone know how much it will cost me? Thanks for your help.
1 L A T E S T R E P L I E S (Newest First)
Johnny Debt
Posted - 12 February 2008 : 08:46:26 It certainly is not a cheap thing to make someone bankrupt.
This will give you an idea of the process involved. Some of these processes do cost.
The real issue though is; if you make someone bankrupt will you get anything? You have to be really sure that the person you are making bankrupt has enough assets to cover all his debts. You may know that he has a nice house (could be in negative equity with a secured loan?) and good income. But do you know if he has other large debts lurking in the background? All debts are taken into account - not just yours. I think you will also find that there is a pecking order too, not sure though?
