Rising bankruptcy charges may put people off getting advice

People with financial worries may be put off seeking advice by an increase in the cost of petitioning for bankruptcy. The cost of petitioning for bankruptcy has risen to £525 and with court fees the total cost is £700. This is not the first time the charges for petitioning for bankruptcy have risen in recent times, since March last year the cost has risen by 37%. The Insolvency Service blamed the increase of £75 on rising administration costs. Experts believe that the increase in these charges will have a negative effect on people who are already faced with having to make tough decisions. Insolvency ...