Find out what you can do if you experience financial problems. Information is available for:
- private individuals
- private individuals who are self-employed
- representatives of a company or organisation which is a legal person, such as
- a limited company
- a general partnership
- a limited partnership
- an economic or non-profit association.
For you who are a private individual
If you can't pay your bills on time, it's important that you explore your options. Also, make a budget to get control of your finances.
If you are a private individual, you may be declared bankrupt if:
- you cannot pay the debts and
- the payment problems are not temporary.
You can read more about what you can do yourself and about social support on our website and the Swedish Consumer Agency's website.
For you who are a sole trader
If your company is a sole tradership, you and the company count as the same person. You who run the company are therefore personally responsible for the company's debts.
It is important that you explore your options if you cannot pay the bills on time for your company or for yourself as a private individual. Also, make a budget to get control of your finances.
You and your company may be declared bankrupt if
- the debts are not paid and
- the payment problems are not temporary.
You are personally responsible for the company's debts. If you go bankrupt as a private individual, your company is therefore also covered by the bankruptcy.
You can find more information on our website, on the Verksamt.se website and the Swedish Tax Agency website:
For you representing a company or organisation which is a legal person
It is important that you explore different options if you represent a company or organisation that cannot pay the bills on time. Make a budget to get a handle on the company's finances. Sometimes you also need to prepare a balance sheet for liquidation purposes. The company or organisation you are representing may be declared bankrupt if
- the debts are not paid and
- the payment problems are not temporary.
Employees may be entitled to wage guarantee if the company or organisation is unable to pay wages in connection with bankruptcy.
You may, in certain situations, be personally liable for the debts of the company or organisation.
You can find information about support and wage guarantee on our website. More support can be found on the websites of Verksamt, the Swedish Tax Agency and the Swedish Companies Registration Office:
Filing for bankruptcy
As a private individual, you can file for bankruptcy for yourself.
If you are a sole trader, you apply for bankruptcy for you as a private individual.
If you are a representative for a company or organisation, you can file for bankruptcy for the company or organisation.
Those who want to get paid, your creditors or the company's creditors, can also file for bankruptcy.
You or the creditors submit the application to the District Court, which decides whether you or your company should be declared bankrupt. The District Court appoints a receiver when deciding on bankruptcy. Those appointed are experienced lawyers or legal practitioners with specific knowledge and experience of bankruptcy administration. You can find bankruptcy decisions in the official gazette Post- och Inrikes Tidningar.
Sweden’s official announcement organ
More information about bankruptcy and filing for bankruptcy can be found on the Swedish Courts website.
Apply for company reorganisation
Company reorganisation can be an alternative to bankruptcy if the sole tradership or the company you represent has:
- temporary problems with paying their debts and
- you assess that the business has the potential to become profitable again.
If you are a representative, you can apply for company reorganisation with the District Court. You must propose an administrator. It must be an experienced lawyer or another legal practitioner who has knowledge and experience of handling bankruptcies. The company to be reorganised pays the cost of the administrator's fee.
You can find more information about what is required to be granted company reorganisation and how to apply on the Swedish Courts website and on our website.