Bankruptcy application process

You need to apply for bankruptcy through an approved money adviser. You cannot apply yourself. 

How to go bankrupt: step by step

The money adviser applies online on your behalf. They send it to Accountant in Bankruptcy (AiB). 

AiB decides if you should go bankrupt. 

Financial assessment 

The money adviser will ask about things like your:

• income
• outgoings
• any assets you have
• your debts

They’ll check if you qualify for bankruptcy. 

Getting a decision 

You usually get a decision within 8 working days.

This is as long as AiB has all the information they need. 

If AiB need more information

AiB will write to you if they need more information to process your application. You have 21 days to send this information. 

If you do not send it on time AiB can refuse your application.

Bankruptcy award letter

AiB will write to you with their decision. If they agree your application, you’ll get an award letter which will confirm:

• you’ve been ‘awarded’ bankruptcy
• the date it starts
• your ‘trustee’ details 
• the amount of any monthly payments (where it applies)
• how long any monthly payments will last for (4 years for most people)

They'll also include a leaflet about bankruptcy rules and your responsibilities.