If you are in debt and go to your local Citizens Advice, they will go through your debt options with you. If bankruptcy is the best option and that is what you decide, there are grants and funding that they can help you apply for to cover the fee.
you can pay in instalments of £5 and apply for a reduction as well. I agree that it sounds a lot but it is the better option for many people who may end up suicidal or depressed with long term impacts on their health due to problem debts.
I have a 17 year old car 🚙 hope they don’t take that Hope/have/will go bankrupt in the next few days, as an ex naval rating, I appreciated the help from various armed force charities ie £680 bankruptcy charge.
No need to go bankrupt because if the debtor doesn't talk to the bank etc or acknowledge the debt with the creditor after a 6 year period if they don't get a county court judgement against you in that time period they cant claim the money under the statute of limitations act of 1979 and regardless after a 6 year period the debt disappears off your credit file.
This is true but its very likely that the creditor will get around to taking you to court within the six year deadline. Sometimes they dont, but most of the time they do. Thry can also apply to make you bankrupt if you owe £5k or more
