Bankruptcy Advice and Useful Articles
If you are struggling with finances and feel there is no way out. Maybe bankruptcy is the answer for your situation.
You may find some of the following articles useful:
The Bankruptcy Amendment Bill —1 Year Discharge Period
Due to an initiative driven by National Innovation & Science Agenda, the bankruptcy amendment will reduce the term of bankruptcy from three years to one year. This period of discharge will be set from the date that the statement of affairs is filed in order to claim bankruptcy. The bill reserves the right of the Trustee to extend the length of the term...
Filing for Bankruptcy will cancel almost all outstanding loans, debts and money you owe immediately. There will be no more debt collectors knocking on your door or calling you at home as all your debt will be gone.
*As mentioned previously there are a few debts excluded from bankruptcy including government debts. This includes family support payments, court imposed fines, HECS and Centrelink debts.
Most people don’t know what to do or where to ...
Nobody really knows that you’re bankrupt except the people that you owe money to, your trustee and the people that you tell.
Also, did you know that bankruptcy cancels your credit card debts and unsecured loans now, not years down the track like some of the other options?
If you have debts that have become overwhelming then bankruptcy can help you too. Bankruptcy is not the so called ‘last resort’ that everybody seems to say it is. Instead it c...