- Applying to become bankrupt.
- Applying for help to avoid bankruptcy.
There are several ways by which an individual or company oppressed by debts can seek help from the law. The first one we describe is somewhat drastic. Debtors themselves may commence bankruptcy proceedings so relieving them of the need to continue responding to any debt proceedings already commenced against them. Nowadays the application is made, not at a court but online giving full details of one’s income, outgoings and debts and paying the fee (currently £680). The online form is transmitted directly to the Official Receiver at the Insolvency Service Office you select (see furtherhttps://www.gov.uk/apply-for-bankruptcy). However, before taking such a step, it is always appropriate to consider whether the debtor can obtain, by consent or by order, a stay of execution in respect of the biggest debt or debts.
Other ways in which insolvency law can help debtors is aimed in the opposite direction; giving the debtor a moratorium on the enforcement
