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Can my creditors make me bankrupt?

It is possible for a creditor to apply to the court to make you bankrupt if you owe them a certain amount of money and you have fallen behind with payments.  However, this is rare for creditors such as banks or credit card companies. This is because it costs them a lot of money to go through this process. You should always get notice if a creditor does decide to make you bankrupt, so you can try and stop it from happening.

My Money Steps will tell you what your options are for dealing with your debts and what to do. If you use My Money Steps, and follow the advice it is much less likely that any creditor will try to make you bankrupt.

 

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