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Apply to Go Bankrupt in the UK: Your Complete 2026 Guide

Updated for 2026

If you are struggling with unmanageable debt and wondering how to apply to go bankrupt, you are not alone. Every year, thousands of people across the UK use bankruptcy as a legal route to a fresh financial start. This guide walks you through the full process, the costs involved, what happens to your assets, and the alternatives you should consider before making your decision.

What Does It Mean to Apply to Go Bankrupt?

Bankruptcy is a formal insolvency process that writes off most of your unsecured debts. It is designed for people who genuinely cannot repay what they owe and need legal protection from creditors.

Since 2016, bankruptcy applications in England and Wales are handled entirely online through the GOV.UK adjudicator service. You no longer need to attend court. Once you submit your application, an adjudicator at the Insolvency Service reviews it and decides whether to make you bankrupt.

Bankruptcy typically lasts 12 months. During that time, an Official Receiver manages your case. After discharge, most qualifying debts are written off completely, giving you the chance to rebuild your finances.

Who Can Apply for Bankruptcy in 2026?

You can apply for bankruptcy if you live in England or Wales and you cannot pay your debts. There is no minimum debt threshold, though bankruptcy is usually most suitable when debts are significant enough that repayment is unrealistic.

Key eligibility points

  • You must owe money that you cannot repay within a reasonable timeframe
  • You need to be based in England or Wales (Scotland has a separate process called sequestration)
  • Both individuals and sole traders can apply
  • You do not need to prove a specific amount of debt

If your total debts are under £30,000 and you have minimal assets, a Debt Relief Order (DRO) could be a more suitable option. The DRO threshold was increased to £30,000 in June 2024, making it accessible to more people than ever.

How to Apply to Go Bankrupt: Step by Step

The process is straightforward, though it does require careful preparation. Here is what to expect:

1. Gather your financial information

Before starting, collect details of all your debts, income, expenses, and assets. You will need bank statements, loan agreements, and a clear picture of your monthly budget.

2. Complete the online application

Visit the GOV.UK bankruptcy application page and work through the form. It asks about your debts, assets, income, and personal circumstances.

3. Pay the application fee

The total cost to apply for bankruptcy in 2026 is £680. This breaks down as:

  • £130 court fee (paid to HMCTS)
  • £550 deposit (paid to the Insolvency Service)

You can pay the deposit in instalments before submitting your application if you cannot afford the full amount upfront.

4. Wait for the adjudicator’s decision

An adjudicator reviews your application, usually within 28 days. They may ask for further information. If approved, a bankruptcy order is made and the Official Receiver takes over management of your case.

5. Work with the Official Receiver

The Official Receiver will contact you for an interview, usually by phone. They will assess your income and assets to determine what, if anything, you need to contribute.

How Much Does It Cost to Go Bankrupt?

The total fee to apply for bankruptcy is £680 in 2026. If paying the full amount at once is difficult, you can save up the £550 deposit in instalments through the online system before submitting.

Some charitable organisations and local councils may offer grants or support with bankruptcy fees if you are on a very low income. It is worth contacting StepChange or MoneyHelper for guidance on available support.

For a detailed breakdown, see our full guide on the cost of bankruptcy in the UK.

What Happens When You Go Bankrupt?

Once a bankruptcy order is made, several things happen:

  • Most creditors must stop chasing you for payment
  • Interest and charges on qualifying debts are frozen
  • Your name is added to the Individual Insolvency Register
  • The Official Receiver assesses your assets and income

Your assets

The Official Receiver may sell certain assets to repay creditors. Your home could be at risk if you own property with significant equity. However, essential household items and tools needed for work are normally protected. Read more about bankruptcy and your assets.

Your income

If your income is above what you reasonably need for living expenses, you may be asked to make monthly payments from income through an Income Payments Agreement (IPA) lasting up to three years.

After 12 months

You are normally discharged from bankruptcy after 12 months, and most debts are written off. Some debts survive bankruptcy, including student loans, court fines, and child maintenance. See our guide on debts not written off by bankruptcy.

Should You Consider Alternatives First?

Bankruptcy is a powerful tool, but it is not right for everyone. Before you apply to go bankrupt, consider whether one of these options might suit your situation better:

Our bankruptcy alternatives page explains each option in detail to help you decide which route is best.

Important Information

The information on this page is for general guidance only and does not constitute financial or legal advice. Bankruptcy has serious financial and legal consequences, and your individual circumstances will affect which option is best for you.

We strongly recommend speaking to a qualified debt adviser before making any decisions. Free, impartial advice is available from StepChange Debt Charity and MoneyHelper.

Not Sure If Bankruptcy Is Right for You?

Explore all your options before making a decision. Our bankruptcy alternatives guide breaks down every route available to you in 2026.

View Bankruptcy Alternatives