Knowledge Hub
Bankruptcy Petitions
A creditor petition asks the court to make you bankrupt. It's rare — but when it happens, timing matters enormously.
All categories2 articles
Guide3 min read
Creditor bankruptcy petitions — what happens next
A hearing date is set. You can pay, negotiate, propose an IVA, or dispute the petition. Doing nothing means bankruptcy.
Read the full guideGuide3 min read
Creditor petitions vs debtor's own application
Bankruptcy can start with the person who owes the money or the person owed. The routes and costs are very different.
Read the full guideEvery article on Debt Compass is written for guidance only and isn't personalised debt or legal advice. A Debt Compass adviser can talk your situation through with you, without pressure.
Not sure where to start? We'll walk you through it.
A quick, confidential chat with a friendly advisor. No pressure, no jargon — just a clear picture of the options that suit your situation.