How long does bankruptcy last?

In England and Wales, most bankruptcies lead to discharge after twelve months from the date of the bankruptcy order, provided you co-operate with the Official Receiver or trustee.

What happens to my house in bankruptcy?

Your beneficial interest in a property can be realised for creditors. Whether you stay in the home depends on equity, joint ownership, and decisions made by the trustee within statutory time limits.

How much does it cost to go bankrupt?

There is a government fee to apply for bankruptcy online. Additional costs can arise if a trustee realises assets. Always check the current GOV.UK fee before applying.

Will I lose my job if I go bankrupt?

Most employees keep their jobs. Some regulated professions and roles with financial responsibilities have restrictions — check your employment contract and professional body rules.

What debts are not written off in bankruptcy?

Student loans, certain fines, maintenance arrears, and some other excluded debts are not typically released by bankruptcy. Priority debts need careful advice.

Is bankruptcy the same in Scotland?

No. Scotland uses sequestration and related procedures under different legislation administered by the Accountant in Bankruptcy, not the same bankruptcy process as England and Wales.

Service Hub

What is bankruptcy?

Bankruptcy is a formal insolvency procedure in England and Wales that writes off most unsecured debts after your assets and financial affairs are dealt with by an Official Receiver or trustee. Most people are discharged after twelve months, although some restrictions and credit-file effects last longer. Bankruptcy is a legal process overseen by the Insolvency Service and the courts.

In England and Wales, personal insolvency solutions include IVAs, bankruptcy and Debt Relief Orders. Different rules apply in Scotland and Northern Ireland.

Reviewed: 1 March 2026 by Editorial Team

In brief

Clear definition of the solution and who administers it.
Eligibility depends on debts, assets, income and location in the UK.
Costs and timescales vary — verify against GOV.UK and a regulated adviser.
Credit-file impacts typically last up to six years for formal solutions.
Free debt advice should be considered before committing to any product.

Next steps

Frequently asked questions

How long does bankruptcy last?: In England and Wales, most bankruptcies lead to discharge after twelve months from the date of the bankruptcy order, provided you co-operate with the Official Receiver or trustee.
What happens to my house in bankruptcy?: Your beneficial interest in a property can be realised for creditors. Whether you stay in the home depends on equity, joint ownership, and decisions made by the trustee within statutory time limits.
How much does it cost to go bankrupt?: There is a government fee to apply for bankruptcy online. Additional costs can arise if a trustee realises assets. Always check the current GOV.UK fee before applying.
Will I lose my job if I go bankrupt?: Most employees keep their jobs. Some regulated professions and roles with financial responsibilities have restrictions — check your employment contract and professional body rules.
What debts are not written off in bankruptcy?: Student loans, certain fines, maintenance arrears, and some other excluded debts are not typically released by bankruptcy. Priority debts need careful advice.
Is bankruptcy the same in Scotland?: No. Scotland uses sequestration and related procedures under different legislation administered by the Accountant in Bankruptcy, not the same bankruptcy process as England and Wales.

Primary source: The Insolvency Service (GOV.UK)