How Bankruptcy Works

How To Claim Bankruptcy In Australia

Bankruptcy will cancel your debt and the whole process can be completed once you have supplied the information required in 3 to 10 days. It is our job to offer the best advice and help your problems disappear. If you are wondering how to claim bankruptcy in Australia, or the process to claiming bankruptcy, talk to one of our experts. Below is a snapshot of what it involves.

You can become bankrupt voluntarily or you can be made bankrupt on the actions of a creditor. If you have considered the alternatives available to you, and have decided that voluntary bankruptcy is your best option, please contact us on 1300 887 210 and we will assist you in completing the necessary forms you will need to enter into Bankruptcy.

To commence the process you can start by having the following available:
  1. Your identification, Driver’s License, Passport or Birth certificate.
  2. Your current address
  3. A full list, including name and address, of your creditors secured and unsecured.
  4. The amount of money you owe your creditors.
  5. Asset and Liabilities statement.

You must show all debts for which you are personally liable, whether business or personal. There are severe penalties including imprisonment for failure to disclose property or concealment or unlawful disposal of property or any item of value. You will need full details of your income, personal property which includes such things as house, car, bank accounts, shares, and any money owed to you.

This is a service that we can provide for you give us a call on 1300 887 210 and we can give you a free consultation on all the options available to you.

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What you need to know before declaring bankruptcy