BANKRUPTCY

NEED A FRESH START & CLEAR YOUR DEBT?

Personal Bankruptcy will release you from most unsecured debts so you can get the financial relief you are seeking and start afresh. Whilst some assets will be protected such as household effects (including clothes), a car worth less than $8,100 and tools of trade worth less than $3,800, you will most likely lose assets of value such as your house (although in some cases your house can be saved if your spouse or family can purchase your share of the equity). Depending on the income you earn whilst bankrupt you may need to pay compulsory income contributions . The time period you will be bankrupt is currently 3 years.

 

Before you proceed with personal bankruptcy, you need to be aware of the consequences and restrictions which will be placed on you. Our personal debt advisors will carefully take you through all aspects of bankruptcy.

Contact us on our 24/7 toll-free hotline on 1800 003 883.

WHAT IS A BANKRUPTCY ANNULMENT?

A bankruptcy annulment is the cancellation of a bankruptcy. There are only 3 ways to end a bankruptcy, outlined in Section 73 of the Bankruptcy Act.

It is always best to gain professional advice in order to understand how bankruptcy will impact your personal circumstances.

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