Debt Services


Bankruptcy is a powerful solution to resolving personal debt issues when you do not have any available money to pay.

It is a court procedure which will free you from your debts and fairly distribute your assets among your creditors. In certain circumstances, bankruptcy can be the most appropriate solution to your financial position.

Who can be made bankrupt:

  • An individual
  • A partnership
  • A self-employed tradesperson
  • An unincorporated company


  • All debts are written off
  • Action by creditors will cease
  • You should become debt free generally within 12 months, giving you a fresh financial start.


  • You will have a bad credit rating for 7 years (but most people considering bankruptcy generally know they already have a bad credit rating)
  • There will be limitations on what you do for a living and how much credit you may have for the first twelve months of the bankruptcy
  • You will have to give up any possessions of value and your interest in your property

The family home is the most important thing to consider in bankruptcy proceedings and declaring yourself bankrupt does not automatically mean you have to lose your home. It is important that you have a personal consultation with us to see how you stand in respect of owning assets.

How Frost Group can help

  • We offer a free initial consultation with one of our insolvency experts who will provide you with a comprehensive summary of the options available to you
  • If bankruptcy is appropriate, we can assist you with the completion of the extensive paperwork required to be filed at court
  • We can also attend court with you and be present at any subsequent meetings with the Official Receiver
  • We can act as Trustees, which means we can help both debtors and creditors through the bankruptcy process.
  • If you are thinking of making yourself bankrupt and live in Croydon, Bournemouth or London you can usually make an appointment to see Frost Group on the same day.

Our fees

  • An initial confidential consultation - free
  • Completion of court paperwork - £500 plus VAT
  • Representation at court or in meetings with the Official Receiver - £500 plus VAT

The court will charge £700 for making a bankruptcy petition.

The process

The bankruptcy starts with:

  • A creditor's petition to the court
  • A debtor's petition to the court
  • The supervisor of an IVA petitioning the court.

Once you're declared bankrupt, it's advertised in the local newspaper and London Gazette, and it goes on a public register, but that is the extent of publicity a bankruptcy will receive.

The administration is handled by the Official Receiver or a licensed Insolvency Practitioner. Control of your assets passes to the Trustee, who'll get the best value and distribute the proceeds to your creditors.

Do you really need a bankruptcy?

It may be that you do not need to go bankrupt.

Frost Group can offer you a lifeline.  As experts in personal insolvency and resolving debt problems, we can advise whether bankruptcy is right for you and the consequences for your circumstances. We are also one of the few Insolvency Practitioners who are FCA regulated to provide consumer debt advice - this means we follow stringent guidelines on how we advise and look after you.  We know that people facing debt crisis are vulnerable and you can be assured we will look after you every step of the way.

Find out more

For bankruptcy services call us on 0345 260 0101 and make an appointment to see one of our Insolvency Practitioners.

You will then feel reassured that your financial affairs are in order before presenting your petition to the County Court.

The Insolvency Service has recently published some promotional material on bankruptcy - called Bankruptcy: fact or fiction. This material can be downloaded below, or alternatively you can visit the Insolvency Service website by clicking on the following link: -The Insolvency Service

Contact an expert for professional help and advice

Our team member below will be able to help with all your questions

Jeremy Frost

CEDR Accredited Mediator & Licensed Insolvency Practitioner

Operating nationwide throughout the UK

At Frost Group, we want to make things as easy as possible for you. That is why, if you can’t come to us, we’ll come to you. We operate face to face, nationwide meetings, wherever is most convenient for you.

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Do you need our help? Get in touch with us today and find out how we can work with you.
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