We aim to make our website as accessible as possible. However if you use a screen reader and require debt advice you may find it easier to phone us instead. Our phone number is 0 8 0 0 1 3 8 1 1 1 1. Freephone (including all mobiles).
StepChange Debt Charity logo
mum pushing son on swing

Worried about bankruptcy?

Free, online debt advice available now

Get debt help

i This solution is only available in England, Wales and Northern Ireland.

Personal bankruptcy

Bankruptcy is a debt solution and a form of insolvency. It’s a legal procedure mainly suited to people whose circumstances are unlikely to change and who have little hope of paying off their debts within a reasonable time.

Bankruptcy works differently depending on where you live in the UK. If you’re living in Scotland please visit our section on sequestration (Scottish bankruptcy). If you live in England, Wales or Northern Ireland the information below outlines the bankruptcy process.  

Video: An introduction to bankruptcy

How does bankruptcy work?

Bankruptcy is a form of insolvency, and normally only suitable if you can’t pay back your debts in a reasonable time. Any assets you own, such as your house, will normally be sold to pay off your debts. This means if your assets are worth more than your debts, or if all of your regular payments are up to date and you can afford to keep paying them, bankruptcy is unlikely to be the best option for you.

When you make yourself bankrupt almost all of your unsecured debts are written off, allowing you to make a fresh start. But personal bankruptcy rules mean you will face certain restrictions.

About personal bankruptcy

  1. What is bankruptcy?
  2. How bankruptcy affects me
  3. How to go bankruptc
  4. After bankruptcy

Helping you become debt free...

“I wish to thank your staff for all the great help they gave me when I was in so much debt.
They were a pillar of support to me.” (Leslie, Essex)

Foundation for Credit Counselling Wade House, Merrion Centre, Leeds, LS2 8NG trading as StepChange Debt Charity and StepChange Debt Charity Scotland. A registered charity no.1016630 and SC046263. It is a limited company registered in England and Wales (company no:2757055). Authorised and regulated by the Financial Conduct Authority.

We link to external websites where they contain relevant information for our visitors. We're not responsible for the content of these websites, or any infringement on your data rights under data protection regulations by any external website provider.

*This is the average rating of our service based on the StepChange reviews on Feefo by DMP and DRO clients three months into their solution.

© StepChange Debt Charity 2019