Month: February 2016

A Bankruptcy Trustee’s Advice: Pay Off Your Bad Debts First

With the cost of living in Australia steadily rising each year, it comes as no surprise that a large proportion of Australians are struggling with their debts and finances. Recent numbers by Mortgage Choice revealed that over half of Australians reported that they felt either “very worried” or “concerned” about their current financial situation in 2015. The percentage of Australians

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Do My Debts Disappear after I Become Bankrupt?

A common question that we receive here at Australian Bankruptcy Services is: “What happens to my debts after I go bankrupt?” The short answer is that some debts will disappear, while others remain attached to your name. There are two types of debts: secured and unsecured debts. Do unsecured debts go away after bankruptcy? Filing for bankruptcy relieves you fully

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How to Declare Bankruptcy in Australia

Bankruptcy laws in Australia have become increasingly complex over the years, leaving many perplexed about how to declare bankruptcy in Australia in a way that is compliant with the law. Australian Bankruptcy Services breaks down how to declare bankruptcy into three simple and clear steps: The first step is choosing your Bankruptcy Trustee. You have the option of either allowing

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