Bankruptcy Calculator – Cost & How Long in Bankruptcy

Bankruptcy CalculatorThe cost of a bankruptcy depends on your income, family situation and whether you were previously bankrupt.   The Bankruptcy Calculator will tell you how long your bankruptcy will last and the monthly payments that will be required.  Fill out the form below.


The cost of a bankruptcy is set by the government. Therefore, the cost will be the same regardless of the trustee you choose to work with.

Use our debt calculator for four payment options that will get you out of debt in five years.

(The Bankruptcy Calculator was updated on February 22, 2017 for 2017/18.)

If your monthly payments are calculated to be less than $100.00 per month, and you are a first time bankrupt, you are eligible for a discharge in 9 months. Please note that you are responsible to pay a minimum of approximately $1,800.00 to the trustee over the term of your bankruptcy.


Bankruptcy Discharge Rules:

– 9 month automatic discharge for 1st. time bankrupts who fulfill all their duties and who do not have excess income. (Required monthly payment of less than $100.00 per month)

– 21 months (or more at the court’s discretion) for 1st. time bankrupts who fulfill all their duties. and who have excess income. (Required monthly payment of $100.00 per month or greater)

-24 months for 2nd time bankrupts who do not have excess income.(Required monthly payment of less than $100.00 per month)

-36 months for 2nd time bankrupts who have excess income. (Required monthly payment of $100.00 per month or greater)

-Bankrupts with personal income tax debt of $200,000.00 or more representing 75 percent or more of total unsecured claims, are not eligible for an automatic discharge. They must go to court for an adjudication.