1. Before using the Online Bankruptcy Portal

The consequences of bankruptcy are serious, and a bankruptcy cannot be cancelled if you change your mind.

Before filing any documentation with the Australian Financial Security Authority (AFSA), seek advice from an insolvency lawyer. An insolvency lawyer will be able to provide you advice on your rights and obligations throughout the bankruptcy process.

2. Create an Account

Once you have received legal advice, if you decide to declare bankruptcy, you must first create an Insolvency Services account via the Insolvency Services portal on the AFSA website.

3. Are you applying for bankruptcy?

If you have arranged for a registered trustee to manage your bankruptcy, ask your trustee to complete a Consent to Act Declaration. This will need to be filed this at the same time as the Bankruptcy Form.

If you do not have a trustee managing your bankruptcy, you can complete the Bankruptcy Form via the Insolvency Services portal on the AFSA website.

When using the Bankruptcy Form, you will be:

  • Asked a series of questions and provided information about the consequences of bankruptcy after each answer. This helps you to better understand how bankruptcy may affect you; and
  • Provided with additional guidance to help you understand the information required for each field. You may also be prompted to seek further help or advice.

4. Have you been made bankrupt by a creditor?

    You can lodge your Statement of Affairs via the Insolvency Services portal on the AFSA website.

    5. What is Next?

    Once AFSA receives your Bankruptcy Form they will either:

    • accept your application and will send you and your creditors confirmation in writing. This confirmation contains your AFSA administration number; or
    • reject your application and will notify you in writing of the reasons why.

    Once AFSA receives your Statement of Affairs, they will send a copy to you and your creditors.


    **Assisted by: James d’Apice**