Bankruptcy Fees & Service Details

💰 Personal Bankruptcy Application Fee: HK$14,500 (inclusive of lawyer’s fee HK$4,900).

Our services include:

• Consultation and legal advice with an experienced lawyer.
• Preparation and submission of all bankruptcy application documents.
• Filing of bankruptcy petition to the High Court.
• Full legal representation — no need for the applicant to attend court personally.
• Legal guidance on bankruptcy procedure and post-bankruptcy financial management.

Legal Protection of a Bankruptcy Order

A bankruptcy order under the Bankruptcy Ordinance provides legal protection for debtors. Once the order is granted, creditors can no longer take legal or enforcement action against you.

• All debt-related lawsuits are immediately frozen.
• The Official Receiver assesses your living needs and determines an allowable monthly expense.
• During bankruptcy, you may keep reasonable living expenses while the remainder of income is managed by the trustee.
• In most cases, bankruptcy is automatically discharged after four years, and all debts are legally written off.

For individuals facing overwhelming debt or multiple bank lawsuits, a bankruptcy order serves as a “legal protection umbrella” — enabling you to rebuild your finances and restore mental and financial stability.

Why Choose Yip Tse Tang Solicitors

• Over 20,000 bankruptcy cases handled since 2001 — extensive experience and expertise.
• Average of 100 bankruptcy applications processed per month — efficient and reliable service.
• Applications submitted on every High Court sitting day, minimizing client wait times.
• In-house financial analysis team to advise clients on post-bankruptcy obligations.
• Confidential service with full client privacy protection.

Bankruptcy Application Process

1. Initial Consultation: Assess financial situation and eligibility with our lawyer.
2. Document Preparation: Drafting of petition and affidavit by our legal team.
3. Court Filing: Submission of bankruptcy documents to the High Court.
4. Court Procedure: Lawyer represents client in court; personal attendance not required.
5. Bankruptcy Order Granted: Debts are legally frozen upon court issuance.
6. Official Receiver Arrangement: Review of income and expenses, setting a monthly allowance.
7. Automatic Discharge: After four years, debts are written off, and financial freedom is restored.

Life After Bankruptcy

Bankruptcy is not an end — it’s a fresh beginning. During bankruptcy, individuals may still:

• Work legally and receive salary (monitored by the Official Receiver/Trustee in Bankruptcy).
• Maintain reasonable living expenses and support family needs.
• Rebuild credit and financial stability after discharge.
• Apply for early annulment of bankruptcy in special circumstances.

We continue to provide clients with financial recovery and debt management advice to help them rebuild a stable life.

Benefits of Applying for Bankruptcy

• Immediate suspension of all debt collection and legal actions.
• Relief from constant creditor pressure and harassment.
• Full debt discharge after four years — complete financial reset.
• Simple and streamlined process handled entirely by our lawyers.