Category: Before Bankruptcy

You do not get to pick and choose creditors when you file for bankruptcy

Susan and Ryan called Bankruptcy Australia for advice on filing for bankruptcy. Susan and Ryan have several credit cards and one personal loan and used the credit card to shop on-line. Susan loved shopping on-line so much that she wanted to know if she could keep her credit card if she filed for bankruptcy. In other words she wanted to


Why do people go bankrupt?

Bankruptcy can affect anyone. Here at the Australian Bankruptcy Service we see and hear every day how quickly someone’s personal finances can spiral out of control when faced with a sudden financial shock. Our staff have carefully prepared the following list to warn people of the risk factors often involved in pushing someone towards bankruptcy. If any of the below


Why a professional bankruptcy form service is important?

Bankruptcy forms are available on the AFSA website and you are able to file for bankruptcy yourself, however many people are scared or unsure of the process and want help. Here at the Australian Bankruptcy Service we offer a friendly and professional bankruptcy form service. We will guide you through the process of completing the forms and applying for bankruptcy.


What Types of debts are cleared by Bankruptcy?

Bankruptcy? If you have more debt than you can afford to repay you might need to consider personal bankruptcy, but that will depend largely on what types of debt you have. Declaring bankruptcy does not release you from being liable to repay non-provable debts or secured debts. Secured debt If you decide to keep the asset subject to security you


Voluntary Bankruptcy Application

If you have serious debt problems and are unable to repay your debts, you may wish to consider declaring bankruptcy on a voluntary basis. With a voluntary bankruptcy the application it is submitted by you and does not require consultation or approval from your creditors or the Court. This process is known as a debtor’s petition. Once submitted and accepted


Voluntary Bankruptcy – what is required to declare bankruptcy in Australia?

Going bankrupt can be a difficult proposition for many Australians. Many Australians wish to avoid bankruptcy for different reasons. Some people feel ashamed or guilty that they cannot pay theirdebts. Whilst it is natural to feel this way, bankruptcy may be the only way you will be able to find the relief from debt you need. To understand if voluntary


Understand the responsibilities and obligations prior to filing for bankruptcy

Attending on his or her Trustee in Bankruptcy A bankrupt shall co-operate and attend on his or her Trustee in Bankruptcy and provide all books and records that are in the possession of the bankrupt and also if requested deliver up the bankrupt’s passport. A bankrupt must also provide information about the bankrupt’s examinable affairs as the bankrupt requires. Section


The Consequences of Bankruptcy in Australia

The consequences of bankruptcy in Australia can be serious. Therefore it is imperative that anyone considering bankruptcy fully understands the consequences and any alternative solutions that may be available to them. The best way to understand how the consequences of bankruptcy will impact you personally is to discuss your personal situation with an experienced bankruptcy advisor. We offer a toll


Should I declare bankruptcy? – How to know if it’s right for you.

Are you considering Bankruptcy? The first thing you should know is that your situation is not uncommon. Current statistics have the average number of Australians declaring Bankruptcy in a year at close to 20,000. The questions you are asking right now have been asked by thousands of people before you, and the reasons for it are multitude. People lose their


Should I be Ashamed to file for Bankruptcy?

Bankruptcy used to be something that people were ashamed to talk about. Whilst some stigma still remains, with more than 20,000 Australians filing for bankruptcy every year the perceived negative connotations are obviously fading. In many of the cases we deal with people come to us concerned about bankruptcy but find they are actually able to avoid bankruptcy by exploring





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