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Cost of going bankrupt

This advice applies to Wales

Going bankrupt may help you to get out of debt but it isn't a cheap option. You'll need to have enough money to apply for bankruptcy.

This page explains what it costs to go bankrupt and what help you might be able to get to cover these costs.

Top tip

If you're considering bankruptcy, you'll need expert advice. You can get advice about your debt problems and bankruptcy from your local Citizens Advice bureau.

To search for details of your nearest CAB, including those that can give advice by e-mail, click on nearest CAB.

What fees and costs do you have to pay to go bankrupt?

If you apply for your own bankruptcy, you'll need to pay the following costs:

  • an adjudicator fee of £130

  • a deposit of £550

This means you'll need to be able to pay £680 if you want to go bankrupt.

If you pay online when you fill in your bankruptcy application form, you can choose to pay by instalments. The minimum online payment amount is £5 and can be paid in as many instalments as you need. If you want to pay by cash, you can pay at any Royal Bank of Scotland branch. If you pay in cash you can’t pay by instalments.

You can apply to go bankrupt and get more information on the fees on the GOV.UK website. 

Can you get help with the costs of bankruptcy?

If you're struggling to raise the fee you need, a charity or grant fund may be able to help, although your application may take a long time to process.

There are some charities and trusts that might be able to help with paying the bankruptcy fee. Use the Turn2us grant search tool to see what you can apply for.

If creditors apply to make you bankrupt

If one or more of your creditors applies to make you bankrupt, you don't have to pay these costs.

More about creditors making you bankrupt

Other ongoing bankruptcy costs

There may be other ongoing costs that will be paid from any assets and/or spare income you have, called the bankruptcy estate, before the rest of it is distributed among your creditors.

These costs might include:

  • professional fees for solicitors
  • expenses for any professionals you have engaged to act for you, such as paying the fees of the trustee
  • any other administrative costs of your bankruptcy
  • the cost of selling your home, such as estate agents' fees.

If your bankruptcy estate doesn't have enough money or belongings of value in it to cover these costs, you won't have to pay them.

Further help

If you're trying to cut your spending, or are having problems with your outgoings, you could get help with bills. You could also use our budgeting tool to see exactly where your money goes each month.

Next steps

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