No you don’t and it will cost you an arm and a leg to get the right type of Solicitor / Chartered Accountant for the job i.e. an Insolvency Practitioner. Our good friends the Insolvency Practitioners rarely get out of bed for less than £2,500 and an ordinary Solicitor would know as much about insolvency as we know about knitting sweaters for the grandkids.
Most of the information required can be found online or by visiting the Citizens Advice Bureau, though it must be said that they tend to have a broad knowledge of many subjects and are not insolvency specialists. In fact, about a quarter of our business comes from referrals from the CAB!
We’re loathe to admit it, but we at Bankruptcy UK are every bit as old and wise as the dears at the CAB, but the difference is that we specialise in bankruptcy. We will also complete an accurate income and expenditure, and submit your application online. Possibly the most important aspect of any bankruptcy is the income and expenditure as this will decide whether you will be stuck in an Income Payments Agreement (IPA) for the next three years.
People attempting their own bankruptcies need to take care when completing the Income and Expenditure, as all manner of non-claimable items have been included. The reason for this is that it is very much in the Official Receiver’s best interests to place you in an Income Payments Agreement (IPA) for three years to offset costs. We know all of these non-claimable costs and the limits for others, so call us for help.
‘Do I need a Solicitor to apply for bankruptcy’ is just one of hundreds of questions we’ve answered over the years, but feel free to call us on 01425 600129 if you need to know more or specifically need bankruptcy help. Our staff are ex-financial services and have the experience to get you the best result every time.