Becoming Bankrupt

Becoming bankrupt

This section of website provides information about the legal processes and issues involved in a person becoming bankrupt both from the point of view of individuals in financial difficulty and creditors seeking to recover money due to them.

For people in financial difficulty

This section provides information about how a person in financial difficulty can present their own bankruptcy petition to the court and what happens when they do so.  It also explains how a statutory demand and a bankruptcy petition presented to the court by a creditor works.

For creditors

In this section you will find information relating to the preparation and service of a statutory demand for a debt and how a bankruptcy petition presented to the court is dealt with.  We also provide information about other forms of debt enforcement and how to respond to a proposal by the debtor for an Individual Voluntary Arrangement.

We hope you will find this information helpful but please remember that it is not legal advice and you must not rely upon it for any particular course of action.

More information

Making someone bankrupt

Making yourself bankrupt