One of the first questions anyone facing insolvency asks is: how much does bankruptcy actually cost in Singapore? It is a fair question — and one that deserves a clear, honest answer. The reality is that filing for bankruptcy involves several distinct fees, and understanding the full cost breakdown upfront allows you to plan properly rather than being caught off guard.
This guide breaks down every cost involved in a debtor-initiated bankruptcy application in Singapore as of 2026, based on the fee schedules under the Insolvency, Restructuring and Dissolution Act 2018 (IRDA).
Court Filing Fee
To file a debtor's bankruptcy application, you must submit an originating application to the General Division of the High Court (commonly referred to as the Supreme Court). The court filing fee for a debtor-initiated application is approximately S$1,850. This is payable at the time of filing and is non-refundable regardless of the outcome of your application.
This fee covers the processing of Forms PIR-9 through PIR-12, which include the bankruptcy application itself, the supporting affidavit, your Statement of Affairs, and the verifying affidavit. Filing is done electronically through the eLitigation system, typically via the CrimsonLogic Service Bureau if you are not represented by a lawyer.
Private Trustee in Bankruptcy (PTIB) Deposit
Since 1 April 2022, all debtor-initiated bankruptcy applications must include the appointment of a Private Trustee in Bankruptcy. The PTIB is a licensed Insolvency Practitioner who administers your estate throughout the bankruptcy period.
The PTIB deposit is typically S$6,600 (including GST). This amount covers the initial administration costs of your bankruptcy estate, including the PTIB's work in reviewing your affairs, notifying creditors, and managing early-stage compliance. The exact amount may vary slightly between practitioners, but S$6,600 is the standard figure most debtors should expect.
Official Assignee (OA) Administration Fee
The Official Assignee's office, which operates under the Ministry of Law, oversees the overall bankruptcy framework in Singapore. While the PTIB handles the day-to-day administration of your estate, the OA retains supervisory functions. The OA's administration costs are generally absorbed within the PTIB deposit structure and the realisation of estate assets, so debtors do not typically face a separate OA invoice. However, be aware that the OA may charge fees related to specific services such as processing travel applications or issuing clearance letters.
Monthly Income Contributions
Once the Bankruptcy Order is made, you will be required to make monthly contributions to your bankruptcy estate. These contributions are calculated based on your income, household size, and reasonable living expenses. The PTIB will assess your income and determine a contribution amount that is sustainable.
For most bankrupts in Singapore, monthly contributions fall in the range of S$300 to S$800. Higher-income earners may be assessed at more, while those on lower incomes or with significant dependants may contribute less. The contribution amount is reviewed periodically and can be adjusted if your financial circumstances change — for example, if you lose your job or receive a pay increase.
These contributions continue for the duration of your bankruptcy, which is typically 3 to 5 years for a first-time bankrupt who is fully compliant, or up to 5 to 7 years in other cases under the differentiated discharge framework.
Example: Total Contribution Over 3 to 5 Years
- At S$300/month for 3 years: S$10,800 in total contributions
- At S$500/month for 5 years: S$30,000 in total contributions
- At S$800/month for 5 years: S$48,000 in total contributions
This is often the largest cost component of bankruptcy, so it is important to understand what your likely contribution will be before you file.
Consultant Fees
Many debtors work with a bankruptcy consultancy to help them navigate the process — from preparing documentation and liaising with PTIBs to understanding their post-bankruptcy obligations. Consultant fees vary widely across the industry, and unfortunately some firms charge thousands of dollars upfront with little transparency about what that covers.
At WeCare Consultancy, fees start from S$50. We believe that people facing financial difficulty should not be priced out of professional guidance. Our initial consultation is completely free, and our ongoing support is structured to be affordable for individuals already under financial stress.
Full Cost Breakdown Summary
- Court filing fee: ~S$1,850 (one-time, upfront)
- PTIB deposit: ~S$6,600 including GST (one-time, upfront)
- Monthly contributions: S$300–S$800/month for 3–7 years
- Consultant fees: From S$50 (WeCare); varies widely elsewhere
- Miscellaneous: Travel application fees, document certification, postage — typically minor
The Debt Repayment Scheme (DRS): A Cheaper Alternative
If your total debts are below S$150,000 and you have a regular income, you may qualify for the Debt Repayment Scheme administered by the Official Assignee. The DRS is a structured repayment plan that lasts up to 5 years and avoids a formal bankruptcy declaration entirely.
The DRS is generally less expensive than bankruptcy because there is no PTIB deposit — the OA administers the scheme directly. You avoid the S$6,600 PTIB cost, and the court filing fee structure differs. Monthly repayments under DRS are determined by the OA based on your income and debts, and the total amount repaid is often less than what you would contribute during a full bankruptcy period.
However, the DRS is not available to everyone. You must meet strict eligibility criteria, and acceptance is at the OA's discretion. WeCare can assess whether DRS is a realistic option for your specific situation.
Hidden Costs You Should Know About
Beyond the direct financial costs, bankruptcy carries several indirect costs that can have a significant impact on your life and livelihood:
Travel Restrictions
As a bankrupt, you must obtain permission from your PTIB before travelling overseas. This can affect both personal travel and business-related trips. Processing travel applications takes time, and last-minute travel may not be approved.
Career Impact
Certain professions and roles are restricted during bankruptcy. You cannot serve as a company director, and some regulated industries — including finance, law, and real estate — may restrict or prohibit employment of undischarged bankrupts. This can mean a loss of income or the need to change career paths entirely.
Credit Rating
Your bankruptcy is recorded on the public Insolvency Register and will affect your credit standing for years. During bankruptcy and for some time after discharge, obtaining credit, loans, or even basic banking services can be difficult. Rebuilding your credit reputation takes sustained effort and time.
Frequently Asked Questions
How much does it cost to file for bankruptcy in Singapore?
The total upfront cost is approximately S$8,450 — S$1,850 for the court filing fee and S$6,600 for the PTIB deposit (including GST).
Are there monthly payments after filing?
Yes. Monthly contributions to your bankruptcy estate range from S$300 to S$800 based on your income and expenses, and continue for 3 to 7 years until discharge.
Is the DRS cheaper than bankruptcy?
Generally yes. The DRS has no PTIB deposit requirement (saving around S$6,600), and total repayments are often lower. However, eligibility is limited to debts under S$150,000.
Plan Before You File
Understanding the true cost of bankruptcy in Singapore is the first step toward making a sound decision. Whether you are considering filing yourself, facing a creditor's petition, or exploring alternatives like DRS or a Voluntary Arrangement, the numbers matter — and so does the guidance you receive.
Every person's financial situation is different. The costs outlined in this article are based on standard fee schedules and typical ranges, but your actual costs will depend on your income, debt profile, and personal circumstances.
WeCare Consultancy offers a free, confidential consultation to help you understand exactly what bankruptcy would cost in your specific case — and whether it is the right path forward. There is no obligation and no judgement. Reach out today and let us help you see the full picture before you decide.