This is a question that gets asked a lot and the short answer is that filing for bankruptcy costs £680. For people that are already feeling the effects of financial hardship, this is obviously a lot of money.
When considering bankruptcy, it is always worth exhausting all other options.
Consider how much you owe. If you owe less than £30,000 then you could be eligible for a Debt Relief Order (DRO). This costs £90.
Or you may even qualify for an IVA.
To find out more about this, take a look at our Bankruptcy page.