Insolvency Service increase prices

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.

Related reading