The Official Receiver or the trustee (if an insolvency practitioner has been appointed in place of the Official Receiver) may have to sell your home to go towards paying your bankruptcy debts. This applies whether the home is freehold or leasehold and whether it is solely or jointly owned.

This section covers the questions you are most likely to want answered on how the court may annul (cancel) your bankruptcy order: What is an annulment of a bankruptcy order? This is a procedure which cancels your bankruptcy order. An order of annulment can only be made by the court.

Debt help – This section covers information on discharge from bankruptcy and the questions you are most likely to want answered about your discharge from bankruptcy.

The Official Receiver is a civil servant in The Insolvency Service and an officer of the court. He (or she) will be notified by the court of your bankruptcy. He will then be responsible through his staff for administering the initial stage, at least, of the insolvency case. This stage includes collecting and protecting any assets and investigating the causes of your bankruptcy.

Bankruptcy is just one of several options to be considered when an individual cannot repay their debts. If you are ever faced with the prospect of bankruptcy you should always look at alternatives as soon as possible such as an Individual Voluntary Arrangement or a Debt Management Plan.

Bankruptcy petitions are usually presented at the High Court in London or a county court near to where you trade or live. A petition can be presented against you even if you are not present in England or Wales at that time.

Bankruptcy may be considered when an individual can no longer afford to pay their debts. Anyone can go bankrupt, whether it be an individual, members of a partnership or a company.

The court fee of £150. In some circumstances the court may waive this fee; for example, if you are on Income Support. If you are not sure whether you qualify for a reduction in the fee or whether you are exempt from paying the fee, court staff will be able to advise you.

There are many long term disadvantages associated with Bankruptcy which need to be considered before you make your final decision. We recommend that you seek expert advice if you are considering declaring yourself bankrupt.

Before you take any action to apply for your own bankruptcy, you should seek expert advice about bankruptcy and the other options available to you. The Insolvency Service and the courts cannot advise you on specific insolvency problems; for example, whether you should go bankrupt.