Bankruptcy — a fresh start when other options aren’t viable
A formal legal process that writes off most unsecured debts and provides legal protection from creditors. Typically discharged after just 12 months.
- 12 months
- To discharge
- £680
- Application fee
- 100%
- Debts written off
- Legal
- Protection
The advantages
Why people choose bankruptcy
Most debts written off
Once discharged, most unsecured debts included in your bankruptcy are written off completely. Credit cards, loans, overdrafts and more.
Discharged after 12 months
Bankruptcy typically lasts just 12 months. After discharge, most restrictions are lifted and you can start to rebuild.
Legal protection from creditors
Once a bankruptcy order is made, creditors must stop all contact and enforcement action. You are legally protected.
A genuine fresh start
Bankruptcy is designed to give you a complete clean slate. It is the most comprehensive way to deal with unmanageable debt.
Structured, clear process
The process is managed by an Official Receiver. You know exactly what to expect at every stage, with no surprises.
Free initial advice
Our first consultation costs nothing. We assess your situation and explain whether bankruptcy is the right option for you.
How it works
How bankruptcy works
Day 1
Free assessment
A qualified adviser reviews your income, outgoings and debts at no cost. We help you understand whether bankruptcy is the right option — with no pressure and no obligation.
Week 1–2
Application submitted
You apply online to the Insolvency Service and pay the £680 application fee. Your adviser can guide you through the process to make sure everything is completed correctly.
Month 1
Bankruptcy order made
An Official Receiver is appointed to manage your case. Your creditors must stop all contact and enforcement action. You are now legally protected from the debts included in your bankruptcy.
Month 12
Discharge
After 12 months, most restrictions end and any remaining unsecured debts included in the bankruptcy are written off entirely. You get a genuine fresh start.
Check your eligibility
Is this right for you?
You’re likely a fit if…
- You cannot afford to repay your debts
- Other solutions such as an IVA or DMP are not viable
- You need a complete fresh start from unmanageable debt
- You are facing legal action from creditors
- Your debts are causing serious financial hardship
It may not be right if…
- You own significant assets you want to keep, such as your home
- You are a company director and need to continue in that role
- You work in certain professions such as solicitor or accountant
- You can afford monthly payments towards your debts
- Another solution like an IVA would work for your circumstances
Questions
Questions, answered honestly
2-minute check
Struggling with debt? See your options in 2 minutes.
Free, confidential and non-judgmental. Start by telling us roughly how much you owe.
No obligation · Won’t affect your credit score