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Alex J.
Alex J., Solicitor
Category: Bankruptcy Law
Satisfied Customers: 3756
Experience:  Bankruptcy, liquidations, administrations, pre pack sales, re use of company names and director duties and offences.
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would a debt collection agency try to get me bankrupt for a

Customer Question

would a debt collection agency try to get me bankrupt for a debt of £900 considering how much it would cost them to go through the court system
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  Alex J. replied 4 years ago.
Hi,

Thank you for your question and welcome to Just Answer.

The minimum debt required to allow a creditor to petition for a debtor's bankruptcy is £750.

In theory they could make you bankrupt and while the costs (approx £2000) are high they could claim these back from your estate.

I would agree it is unlikely that they would bankrupt you for this sum but not impossible. My best suggestion would be to immediately offer them a lump payment as a gesture of goodwill and agree a repayment plan based on your affordability. Then they are less likely to take this action.

I look forward to hearing from you.

Kind regards

AJ