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 bankruptcy postbag for february
 cost of credidtors petition
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Junior Member

171 Posts

Posted - 10 February 2008 :  18:49:33  Show Profile  Reply with Quote
I am thinking of petitioning a debtor for bankruptcy. Does anyone know how much it will cost me?
Thanks for your help.

Johnny Debt
Junior Member

United Kingdom
265 Posts

Posted - 12 February 2008 :  08:46:26  Show Profile  Reply with Quote
It certainly is not a cheap thing to make someone bankrupt.

Take a look at this leaflet by the HMCS


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?

Edited by - Johnny Debt on 12 February 2008 08:48:40
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