Do you qualify for bankruptcy? Find out with our free, simple test

Start my free debt test

The Bankruptcy Service Case Study Example: Bankruptcy And Properties With Multiple Owners

The following bankruptcy case study is a fictitious example, designed to help you understand working situations where bankruptcy is and isn't appropriate.

A look at taking a holiday after bankruptcy.

I am finally about to enter employment, after a tough few years. I feel I deserve, and have earned, a small reward in the form of a break, and was wondering what the rules are for a bankrupt for going on holiday this summer? Is it allowed, or will I get in trouble?

Yes, you can go on holiday, without feeling guilt over doing so - as long as the costs involved are reasonable, and you are not seen as being extravagant. You are legally permitted to budget for such an event in your “statement of affairs”, and roughly, £20 per month per adult and £10 per month for a child is seen as a reasonable amount. It’s important to remember that a bankruptcy is not a punishment, and whilst sacrifices clearly need to be made during a bankruptcy, you are still expected to live to a respectable standard.

Free debt counselling and advice is also available from the Money Advice Service available at: doesn't charge a fee for its bankruptcy service, but receives remuneration from the partners that we work with in order to keep operating. Those partners must charge a fee to the customer to likewise cover operational costs, and this amount will vary depending on the solution offered, and the terms of the parner. For details of these terms, please refer to the website of the organisation dealing with your bankruptcy. Upon application with, we will forward your information on to one of our specialist debt partners. You will then be contacted, and you will be able to explain your case, and expert advice will be offered in order to ascertain the most appropriate debt solution.