After making a decision on whether bankruptcy is the right option, there are forms and fees to submit.
It costs a total of £680 to apply to go bankrupt, and this is non-refundable unless the application is cancelled before being submitted.
Citizens Advice suggest withdrawing money for living costs before submitting the final application.
Once the application has been submitted, an adjudicator will make a decision on wither to proceed and make a bankruptcy order, or reject the application.
They may need more information about the case, and will then get in touch for further details. If they do this, they will have 14 more days to make a final decision.
What happens if you are declared bankrupt?
If the adjudicator makes the bankruptcy order, you…
Read the full article at: https://www.express.co.uk/life-style/life/997340/bankruptcy-bankrupt-timeline-loan-debt-rules