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 framework under the Insolvency, Restructuring and Dissolution Act 2018 (IRDA).
Full Cost Breakdown Summary
Here is a quick overview of the primary costs you can expect when filing for bankruptcy:
| Fee Type | Estimated Amount | Payment Frequency |
|---|---|---|
| Official Assignee (OA) Deposit | S$1,850 | One-time, upfront |
| Court Filing & Commissioning Fees | S$100 to S$150 | One-time, out-of-pocket |
| PTIB Deposit | Varies by Trustee | One-time, upfront |
| Consultant / Agent Fees | Fixed package fee available at WeCare Consultancy with no hidden cost. | One-time, upfront (varies by firm) |
| Monthly Contributions to Bankruptcy Estate | From a few hundred to a few thousand dollars or more | Monthly (for 3–7 years) |
1. The Upfront Costs
Before a bankruptcy order can be made, you are required to clear several initial financial hurdles. It is a common misconception that there is a single "filing fee" — in reality, the upfront costs are split into up to four distinct categories, depending on whether you engage a professional consultant to assist you.
Official Assignee (OA) Deposit
When filing a debtor-initiated application, a mandatory deposit of S$1,850 must be paid to the Official Assignee. This deposit goes towards the OA's costs for the regulatory oversight and administration of your bankruptcy estate. This payment is strictly required before your application can proceed and is generally non-refundable.
Court Filing Fees & Commissioning of Affidavits
To officially file your application with the General Division of the High Court, you must submit specific legal documents (Forms PIR-9 through PIR-12, including your Statement of Affairs and supporting affidavits).
- Filing Fees: These documents must be filed electronically through the eLitigation system (typically via the CrimsonLogic Service Bureau if you are unrepresented). You will need to pay the standard eLitigation filing and processing fees.
- Commissioning: Before filing, your affidavits must be sworn or affirmed before a Commissioner for Oaths, which incurs separate, standardized commissioning fees.
Together, these out-of-pocket court filing and commissioning fees usually range from S$100 to S$150.
Private Trustee in Bankruptcy (PTIB) Deposit
Since 1 April 2022, all debtor-initiated bankruptcy applications require the appointment of a Private Trustee in Bankruptcy (PTIB) — a licensed Insolvency Practitioner who will administer your estate.
The PTIB deposit is not a fixed, standardized amount. Because PTIBs are private professionals, their fees vary from trustee to trustee. The required deposit and ongoing remuneration will depend entirely on the complexity of your financial affairs, the amount of work required to manage your estate, and the specific practitioner's fee structure. You will need to negotiate and agree upon this deposit directly with your nominated PTIB before they sign the Consent to Act.
Consultant or Agent Fees (If Engaged)
Navigating the strict legal requirements of the IRDA, preparing extensive documentation, and communicating with PTIBs can be overwhelming. Many debtors choose to work with a consultant or agent to guide them through the process, which constitutes an additional upfront cost.
Consultant fees vary widely across the industry. Unfortunately, some firms charge thousands of dollars upfront with little transparency regarding what that fee actually covers.
At WeCare Consultancy, we believe that people facing financial difficulty should not be priced out of professional guidance. We have a fixed package fee available, and our advisory support is intentionally structured to be transparent and affordable for individuals already under financial stress. Our initial consultation is completely free.
2. Ongoing Costs
Monthly Income Contributions
Once the Bankruptcy Order is made, you will be required to make monthly contributions to your bankruptcy estate. The PTIB will assess your income and determine a sustainable contribution amount based on your earnings, household size, and reasonable living expenses.
Monthly contributions can range from as low as a few hundred dollars to as high as a few thousand dollars or more depending on your income and expenses. Higher-income earners will naturally be assessed at more, while those on lower incomes or with significant dependents will contribute less. This amount is reviewed periodically and can be adjusted if your financial circumstances change (e.g., job loss or a pay increase).
These contributions continue for the duration of your bankruptcy — 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$1,000/month for 5 years: S$60,000 in total contributions
- At S$2,000/month for 5 years: S$120,000 in total contributions
The Debt Repayment Scheme (DRS): A Cheaper Alternative?
If your total unsecured debts are below S$150,000 and you have a regular income, you may qualify for the Debt Repayment Scheme (DRS) administered by the Official Assignee. The DRS is a structured repayment plan lasting up to 5 years that avoids a formal bankruptcy declaration entirely.
The DRS is generally less expensive upfront because there is no requirement to appoint a PTIB, eliminating the private trustee deposit. The monthly repayments are determined by the OA based on your income and debts, and the total amount repaid is often more manageable. However, the DRS is not available to everyone. You must meet strict eligibility criteria, and acceptance is at the OA's discretion.
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:
- Career Impact: Certain professions and roles are restricted. You cannot serve as a company director, and regulated industries (including finance, law, and real estate) may restrict or prohibit the employment of undischarged bankrupts.
- Travel Restrictions: You must obtain permission from your PTIB before traveling overseas. This can hinder both personal and business-related travel, and last-minute trips may not be approved.
- Credit Rating: Your bankruptcy is recorded on the public Insolvency Register and will severely impact your credit standing. Obtaining loans, credit, or even basic banking services can be difficult for years, even post-discharge.
Frequently Asked Questions
How much is the upfront court fee for bankruptcy?
You must pay a mandatory S$1,850 deposit to the Official Assignee. On top of this, you must pay separate out-of-pocket court filing and commissioning fees, which usually range from S$100 to S$150.
What is the standard fee for a Private Trustee (PTIB)?
There is no standard or fixed fee. PTIBs are private practitioners, and their deposits and ongoing administration fees vary from trustee to trustee based on their individual rates and the complexity of your case.
Are there monthly payments after being adjudged as a bankrupt?
Yes. Once the court makes a bankruptcy order and you are officially adjudged as a bankrupt, you will be assessed for monthly contributions to your bankruptcy estate. These payments range from as low as a few hundred dollars to as high as a few thousand dollars or more depending on your income and expenses, and they typically continue for 3 to 7 years.
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.
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.