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The number of people in serious debt is on the rise, echoing the increase in SME wind-ups. A rise in companies in debt An analysis of official statistics from the Australian Securities and Investments Commission (ASIC) reveals that there was a notable increase in the number of Australian companies declaring insolvency in the end of the last financial year. ASIC’s

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Did you know? One in 911 Australians become bankrupt at some point in their life More than 20,000 Australians declare bankruptcy each year 20% of bankruptcies are business related, not personal Once upon a time, bankruptcy carried a stigma; however, times have changed. Although bankruptcy remains a last resort for those in debt – and it is always recommended that

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If you are looking to file for voluntary bankruptcy in Australia, it is critical to seek professional bankruptcy advice from a Registered Trustee in Bankruptcy proceeding. Bankruptcy is a serious decision that can come with harsh consequences. You should consult a bankruptcy expert who will carefully assess your individual situation and make sure it is the best option before you

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According to a recent report by the Australian Financial Security Authority, the number of Australians declaring bankruptcy has soared to over 18,600 per annum in the last two years. Australian Bankruptcy Services (ABS) has collated the results of several databases and studies, both here in Australia and overseas, to identify the most common factors leading to people filing for bankruptcy:

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Bankruptcy is a process that most people want to avoid, as it comes with some very serious consequences. Not only will a Trustee have to investigate your financial affairs and potentially sell some of your assets to pay back your creditors, but you will also have a mark on your credit file and a permanent record on the National Personal

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