How Much Does It Cost to Go Bankrupt

One of the most common questions people ask is, “How much does it cost to go bankrupt?” In Australia, there are generally no upfront government fees to apply for bankruptcy. However, there may be associated costs depending on your circumstances and whether you use professional assistance.

If you engage an insolvency practitioner or financial advisor, you may incur service fees for guidance, form preparation, and strategy development. Additionally, your assets and income during bankruptcy may affect repayments or contributions.

Understanding all potential costs before declaring bankruptcy helps you plan effectively and ensures that you take the right steps toward lasting financial recovery.