Are your funds running thin? Do you feel anxious every time the phone rings? Does the daily trip to the mailbox make you fearful?

If you identify with any of the above scenarios, you are probably looking for a way out. And for many struggling individuals, bankruptcy tends to be at the forefront of their minds.

But according to the bankruptcy experts at Australian Bankruptcy Services, it is extremely important to have a thorough understanding of the bankruptcy alternatives available and to reserve bankruptcy as one’s final resort.

Contrary to what many people believe; when it comes to bankruptcy, this is not a case of ‘saving the best for last!’ Bankruptcy experts strongly emphasise the consequences that bankruptcy may present to the insolvent individual.

When you become bankrupt:
Your assets may be sold to repay creditors
Your income and employment may be affected
You may not be released from all of your debts
Your ability to travel overseas may be hindered
Your name will appear on the National Personal Insolvency Index, permanently
You will receive a mark on your credit file, affecting your future ability to obtain loans
Your bankruptcy period will last for an average of three years

At Australian Bankruptcy Services, we understand that filing for bankruptcy is a daunting decision any Australian will have to face. It can be overwhelming, without having the difficulty of trying to understand the bankruptcy laws, technical jargon and the full impact of declaring bankruptcy.

This is why is it vital that you speak to a consultant expert before filing for bankruptcy.

ABS has years of experience in assisting people navigate through bankruptcy and giving them as much information as possible to help them through the process and overcome debt problems.

Our phone lines are open 24 hours a day, 7 days a week, so please contact us to see how we can help you – 1800 093 070.