DEBT COMPASSGuiding you to a brighter financial future

Back to Bankruptcy Petitions

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.

Bankruptcy Petitions3 min readReviewed July 2026

A creditor petition follows a statutory demand and requires a debt of at least £5,000. The court fee and creditor's costs are added to the debt.

A debtor's own application is made online through the Insolvency Service, currently costing £680. It's usually quicker and less contested.

Bankruptcy is one of several formal solutions — a debt help conversation can compare it fairly against a DRO, IVA or DMP.

General information, not personalised adviceThis article is written to inform. It isn't personalised debt or legal advice, and Debt Compass is not authorised by the Financial Conduct Authority. A team member can talk you through the options and point you to a free debt help service or authorised insolvency practitioner before you decide on anything.

Related reading

Bankruptcy Petitions

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.

Bailiffs & Enforcement

Your rights when a bailiff is at the door

Bailiffs work under a tightly regulated process. Doors do not have to be opened. Payment can almost always be negotiated.

Bailiffs & Enforcement

Vulnerability and bailiffs — the extra protections you have

If you (or someone in your household) is vulnerable, bailiffs must take extra steps — and often must stop entirely.

Bailiffs & Enforcement

Controlled Goods Agreements explained

Signing a Controlled Goods Agreement lets you keep using items — but it changes what happens next.