Bankruptcy
A genuine fresh start.
Write off most unsecured debts when repayment isn’t realistic — you’re usually discharged after 12 months.
Is it right for you?
Bankruptcy may suit you if…
- You can’t repay debts in a reasonable time
- Other solutions aren’t suitable
- You want a clear, final fresh start
- Creditors are taking serious action
It may not be suitable for
- Homeowners wanting to keep their property
- Certain professions with restrictions
Don’t worry — there are other options, and our check will point you in the right direction.
Real-life example
How bankruptcy could help.
David, 52, Birmingham
After his business closed, David was left with personal debts far beyond what he could repay.
Most of David’s unsecured debts would be written off on discharge.
Total debt
Monthly payments
Timescale
Illustrative example only. Names and figures are representative; your outcome depends on your circumstances.
How it works
How bankruptcy works.
Understand the impact
We explain consequences for your home, job and assets.
Apply online
You apply to the Insolvency Service with the fee.
Discharge
Usually after 12 months, most debts are written off.
The full picture
Advantages and disadvantages.
Advantages
- Most unsecured debts written off
- Creditor pressure stops
- Usually over in 12 months
- A clear, final fresh start
Things to consider
- Your home and assets may be sold
- Some jobs may be affected
- Payments from income for up to 3 years
- Public record and 6 years on credit file
Could bankruptcy work for you?
Five quick questions. No credit search. No obligation.
Safe, secure, confidential
Bankruptcy FAQs
Common questions.
Will I lose my job?
Most people don’t, but some professions have restrictions. Check with your employer’s rules.
Can I pay the fee in instalments?
Yes, the £680 fee can be paid in instalments before you apply.
Is bankruptcy public?
Yes. It appears on the Individual Insolvency Register.
Compare options
Other debt solutions in England.
Not sure if bankruptcy is right for you?
Answer five quick questions and we’ll help you understand which options may suit you.
Check my options