How to make yourself bankrupt in Scotland

You can make yourself bankrupt providing that you owe a total debt of £1,500 or more, you live in Scotland (or have lived in Scotland sometime during the last year) and you have not been made bankrupt in the last 5 years.



You must also satisfy one of the following conditions:

One of the creditors you owe money has to agree to you making yourself bankrupt - this is called creditor concurrence. Your creditor has to sign a special form to confirm their agreement.

or

You can demonstrate that you are apparently insolvent. Apparent insolvency is a legal term used when you cannot pay your debts as they become due. A creditor must have gone to court and obtained a ruling that you owe the debt to the creditor and will usually have served you with either a Charge for Payment or a Statutory Demand for payment.

To apply for your own bankruptcy you must use the correct application pack.

The debtor application pack comes in three different versions, depending on your circumstances.

Debtor Application Pack 1 - applying without creditor agreement (known as "without concurrence")

Debtor Application Pack 2 - applying with creditor agreement (known as "with concurrence")

Debtor Application Pack 3 - applying when the debtor is not an individual, but is an entity such as a partnership or trust.

Packs are available from money advisers and the Accountant in Bankruptcy, 1 Pennyburn Road, Kilwinning Ayrshire, KA13 6SA (telephone 0845 762 6171).

Instructions for completing applications are included with each pack and it is essential that the pack is fully completed.

You will also have to pay the application fee of £100. There are no waivers or exemptions for this fee. More information about how to pay this fee can be found here.

You will need to send your completed application form, the evidence that you are eligible to apply and your payment to the Accountant in Bankruptcy at the address above.

If you wish to appoint an insolvency practictioner to act as your trustee, you should also enclose their written consent to act on your behalf. The Accountant in Bankruptcy will be your trustee if you do not wish to appoint a trustee yourself.