What to consider when filing for bankruptcy

 

Filing for bankruptcy on a voluntary basis may be one of the most daunting and difficult financial decisions an individual is ever likely to face in their life. Here are some things to consider when filing for bankruptcy.

 

• Eligibility

You can apply for bankruptcy if you are insolvent, meaning you cannot pay back your debts when they are due, and you are present in Australia or have a residential or business connection to Australia.

 

2) Ability to travel overseas

You cannot travel overseas without first obtaining permission from your Bankruptcy Trustee. This includes if you need to travel urgently or for compassionate reasons.

 

3) Bankruptcy Laws

Making the decision to declare bankruptcy is already difficult. While you have the option of filing for bankruptcy yourself, the bankruptcy laws in Australia are very complicated, so it can be difficult to understand the technical jargon necessary to navigate your way through this application.

 

Our team at Australian Bankruptcy Services is here to help make the process less intimidating by offering our expertise, friendly support and trusted professional services.

 

If you are looking to bankruptcy and want to take the first step towards financial freedom, then get in touch with Australian Bankruptcy Services. We have expert Bankruptcy advisors who can offer you FREE and professional bankruptcy advice tailored to you. Call us now on our toll-free bankruptcy hotline. We are available 24/7 including weekends.