Creditors must stop chasing you

If you file for bankruptcy and it is accepted by the AFSA your creditors can no chase you to recover unpaid debts. All communications will be handled by your bankruptcy trustee.

To ensure that your bankruptcy is accepted by AFSA the first time we recommend using a professional bankruptcy form filling service such as the one we offer. For a fixed price you can have your forms filled in by a professional bankruptcy expert. This will practically guarantee that your bankruptcy is accepted and your forms are filled in correctly.

Your debts are written off

All provable debts will be written off forever. Regrettably for some people (debts like HECS and childcare liabilities are not written off with bankruptcy, which means you will still need to pay these debts).

No More Stress

Bankruptcy will definitely reduce your stress. It will stop the threatening calls & letters. Whilst bankruptcy comes with conditions & consequences which must be adhered to, many people who go bankrupt tell us later that they felt relieved & stress free after making the decision.

Know and follow the rules

Don’t try to defeat or trick your creditors or trustee in bankruptcy. Despite the risks, some people still try to hide assets or transfer the ownership of assets to family or relatives before going bankrupt. The Bankruptcy law anticipates this type of behaviour and transactions which are entered into to defeat creditors can be reversed.

Your bankruptcy term can also be extended from the usual 5 year period to 8 years. To fully understand the rules of bankruptcy read this site very carefully.

If after reading this site you have unanswered questions, please call us direct on 1800 462 767. At the Australian Bankruptcy Service, we have an experienced bankruptcy trustee on site who will be able to make sure you get the best possible advice before declaring bankruptcy.