How Much Do I Have to Pay To Declare Bankruptcy?

In England and Wales, the cost of declaring bankruptcy totals £655, however this cost is comprised of two separate fees. One of these fees must be paid in every case, whereas the other may be waived under certain circumstances.

In England and Wales, when you apply for bankruptcy, you will have to pay a fee of £525 as a deposit to the Official Receiver, who will be administering your bankruptcy case. A second fee of £130 applies for the cost of considering your application.

How Can I Pay My Fees?

Applicants can pay the bankruptcy fee:
- online by debit and prepaid cards by logging into your application and selecting the 'Make a payment' button
- by cash at any Royal Bank of Scotland branch

You won’t be able to pay these fees using a personal cheque. When paying online you can pay in instalments of as little as £5 if you can’t afford the full amount in one go. However your application will not be processed until the full fees have been received.

Will I Have to Pay Anything Towards My Debts?

After you have filed for bankruptcy, the Official Receiver will review your debts and decide how much, if any, you will have to pay.

If you do have to pay a contribution, or an ‘income payments arrangement’, this will be paid on a monthly basis for up to three years. You will be liable to make a contribution if you have an available income of more than £20 a month, after you have paid your household bills and essential living costs.

How Much Will I Have to Pay Towards My Debts?

Depending on your circumstances, this can vary, but rest assured that you won’t be asked to pay anything that you cannot afford. You will always be left with enough money to live on each month.

The Official Receiver will help you to generate money to pay your debts through the sale of any valuable property you have, like cars and jewellery, or by using your savings.

If you live elsewhere in the EU, you can’t declare yourself bankrupt in England or Wales. If you live in Scotland or Northern Ireland we recommend you visit:
Northern Ireland