THE INSOLVENCY SERVICE has increased the rate debtors and companies wind-up or enter a bankruptcy.
The government body will increase prices for a debtor to enter bankruptcy, a creditor to file bankruptcy proceedings and for a business to start a compulsory liquidation.
A person filing for bankruptcy will see the price increase £75 to £525, and a creditor petitioning for a bankruptcy will see a rise of £100 to £700.
Businesses entering into a company voluntary liquidation will be charged £1,165 compared to the current rate of £1,000.
The price changes will affect any petitions filed from 1 June onwards.
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