People who suffer from large debts that they are unable to pay can now have some peace of mind and have a fresh new start by becoming bankrupt. For some people it can be a viable debt management option. I know this sounds a little strange but please listen. You can apply for bankruptcy for only a small price. It costs about 495 which adds up the court cost of 150, and the official receiver’s fee of 345. You can also become bankrupt if you owe your creditor a certain amount of money but do not have the means to pay it back. If this happens then being bankrupt will help pay the fees.