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How much does Bankruptcy cost?

How much does Bankruptcy cost?

Bankruptcy does cost money to execute

Bankruptcy is a legally mandated process and there are regulations that will determine how your financial position can be remedied by. This means that specialised people would need to work with you to ensure that you and the people you owe money to are protected and treated equally in the eyes of the law.

We will try to explain how all aspects of the Bankruptcy process in Australia is calculated from a cost point of view. This is our way to help you feel assured that no matter the money it will costs to manage the process, it is channelled to ensure you achieve the best value and outcome.

How do I know what is costing money during the Bankruptcy process?

There are a number of fees that are charged by various entities to ensure that the Bankruptcy process is followed correctly. This process therefore mandates the time and resources to ensure this is done exactly as the law stipulates. These steps were designed to protect you and the people you owe.

Our services help you to save as much time and money as possible so that you can be on your road to recovery a lot sooner. Let’s look at some of the costs that may be incurred during a Bankruptcy process.

Interest charged by your creditor

As with any debt agreement, interest is charged. If you do not make the minimum required payments, you would need to know that additional penalties and interest may be levied to your agreements.

This is why it is important to not waste time when you decide to approach an expert as it will prohibit any further charges to be levied to your account. An appointed trustee will be able to halt any further charges by creditors or legal action.

Fees charged by the Australian Financial Security Authority (AFSA)

Depending on the process and the intricacies of your situation, the AFSA may charge fees to help facilitate all the steps needed to conclude your Bankruptcy process lawfully. These fees may change, and it is always good to speak to an advisor.

Be sure to know when some of these fees are expected to be paid as the process might not proceed if they are not paid. By partnering with us, we take away the burden of keeping track of all the charges. Things the AFSA could charge for could include but are not limited to the following:

  • Publishing details of a notice of meeting of creditors on AFSA’s website
  • Online self-service search using the Bankruptcy Register Search
  • Inspecting a publicly-available document
  • Application for a bankruptcy notice
  • Application for extension of time for the service of a bankruptcy notice
  • Debt agreement proposal lodgement fee
  • Document processing fee (payable when controlling trustee authority is lodged with AFSA)
  • Overseas travel application fee
  • Application for statutory notice
  • Taxation of a bill of costs in relation to the administration of an estate
  • Taxation of a trustee’s remuneration in an estate
  • Application to be registered as a trustee or debt agreement administrator
  • Initial registration
  • Renewal of registration (every 3 years)
  • Realisations charge
  • Interest charge, and
  • Administration fees

Why it is more sensible to partner with us

Our value proposition to you is simple. We have the knowledge, expertise and qualified professionals that understand the hardship and emotions that come with a Bankruptcy process.

We handle every case differently and aim to have a resolution that is quick, simple, and cost effective. Our clients understand the value in working with the people that want to ensure you are protected and assisted in the best possible way.

We always ensure that any further costs are kept to an absolute minimum so that you can get back on your feet as quickly as possible.

The one thing money can’t buy when working with us is the peace of mind we offer to our clients. This is because we put your interests first and will do everything in our power to let the law come to the best possible outcome that helps everyone.


  • I made an appointment with Andrew after finding him on google. I was nervous and apprehensive about what to expect but he made the process of bankruptcy extremely uncomplicated and stress free, allowing myself the opportunity to get the fresh start I was so desperate for. Thank you Andrew I could not recommend you enough.

  • Making the decision to go bankrupt was not easy however once I had spoken to Andrew i felt all my anxiety disappear. Andrew does not judge you and he has an innate ability to put you at ease. He took care of the whole process for me again reducing the stress involved with completing paperwork.
    Thank you very much.

    Hayley Eastough
  • I will definitely recommend Andrew Bell to anyone contemplating bankruptcy. Don't wait! Andrew is there to help. With his knowledge, he can advise you of the best path to take and assist with the mind boggling paperwork.

    Best of all, he is there for you through your entire bankruptcy period. Get your life back, it's not as bad as you think. Thank you Andrew for lifting the burden and allowing me to move on.

    Karilyn Mahon
  • I saw Andrew for 'advice only' on possible bankruptcy due to a divorce. Left an hour later with the paperwork all done and feeling like a new person!

    Andrew was extremely welcoming and made me feel so comfortable with my decision to proceed immediately.

    This was the best investment I have ever made and cannot speak highly enough of Andrew. He doesn't just give excellent service his follow up afterwards is amazing. Thankyou Andrew you made my 'new' life so easy to achieve!

    Vicki Johnston
  • Andrew was very helpful in helping me through the bankruptcy process, as a single mother left with a massive debt from my ex and our previous marriage. I was struggling to keep my head above water on a week to week basis.

    Andrew made me feel at ease immediately and helped me every step of the way, he happily and professionally answered any and all questions I had before, during and after the process. Thanks so much for your help Andrew!

    Aisha Edmonds
  • Would highly recommend Andrew to anyone having financial difficulties. Andrew made me feel very comfortable - he took care of everything and keep in regular contact with me throughout the whole process.

    Service was fantastic and he also keep in regular contact with me when everything had been finalised Thanks Andrew! can now get my life back on track.

    Cassandra Walsh
  • Very prompt service and excellent source of knowledge and information, I highly recommend Andrew's service for a quick turn around of circumstances.

    Eve Damjanovich
  • Andrew put my mind at ease in one easy appointment. Very satisfied with the outcome and service provided. Highly recommend Andrew.

    Tracey Douglas
  • Andrew was a steadying hand with his advice.Showing that things aren't as bad as first thought nor any obstacle insurmountable. If you have questions needing answers, Andrew is the person to ask. Thanks for your advice Andrew.

    Shane Thompson
  • Andrew was very knowledgeable, caring, helpful and compassionate when I went and saw him. He made me feel that I wasn’t the loser and failure that I thought I was being. Even down to the box of tissues on the table.. which I needed. Highly recommend to go see Andrew if your struggling. There is life after!

    Joanne Parker
  • Andrew and his team do an excellent job of helping their clients with bankruptcy advice and it is a pleasure to work with him.

    Gareth Lane
  • Don't hesitate contacting Andrew, I was stressed, struggled sleeping through debt. Andrew put me at ease. He listened to my situation and we decided on my next move. Andrew is professional and easy to talk too. I would recommend highly to anyone who wants help to give him a call. I appreciate your support Andrew. Regards Brett.

  • Andrew has given me back my life!!! After living paycheck to paycheck, I didn’t know what to do. Until I made the big step and booked an appointment with Andrew. As soon as I left his office I felt a huge weight lifted!!!

    Deezy H
  • Andrew was prompt, organised, friendly and efficient with the processing of my documents and made everything very simple for me so I didn’t need to deal with the added pressure and stress. Thank you Andrew for allowing me to start afresh and getting it done within a matter of weeks.


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What you need to know before declaring bankruptcy