Bancruptcy of individuals
A person with legal domicile in Iceland may file a bankruptcy claim on their own estate. Personal bankruptcy is a decisive decision and has various effects.
Financial problems can often be resolved without bankruptcy, and it is important to seek financial advice before making a decision.
The debtor's representative has compiled a
How does bankruptcy work?
At the beginning of bankruptcy, a claim is submitted to the district court
When the claim is accepted, a liquidator is appointed
When the exchange is complete, a 2 year expiration period begins
Once the 2 year expiration period has expired
Next: Filing for bankruptcy
Service provider
The Debtors' Ombudsman