Free Bankruptcy Advice


If you have any questions about the process of Bankruptcy in Australia, we will give you honest and open answers as best as we can, at no cost to you.  On the odd occasion, if we cannot answer a question you have, we will certainly point you in the right direction.  We always take pride in our service, whether it is paid for or not.


Personal Bankruptcy


Over the years, we have helped thousands of clients with their bankruptcy inquiries.  Out of all of the applications we have helped our clients with, not one has been rejected!!  We take pride in that statistic.  This is because in the first instance, we make sure that you are a suitable candidate for bankruptcy in our first free consultation.  We are also very particular with the whole process of the bankruptcy applications, making sure they are completed correctly and accurately.  We are also there for you for the full three years that you are bankrupt.  

Whether you are a pensioner, unemployed, an employee, self employed, no matter what your circumstances, we can help you with your debts and have you bankrupt in a matter of just a few days.  


Business Bankruptcy


Do you have business debt?  You may not know that on many occasions you are held personally responsible for business debts.  If you are a sole trader or in a partnership, then you are personally liable for those debts.  If you are a company director, then you will also be personally liable for many debts, such as tax, superannuation, bank loans and credit cards, and any other company debts that you have signed as a personal guarantor.  All of these debts can be covered through personal bankruptcy.  


If you have a company that needs to be liquidated, please also contact us, as we have the resources to facilitate that as well.

PART 9 Debt Agreement

A debt agreement is one of two agreement options available. A debt agreement, also known as a Part IX (9), is a legally binding agreement between you and your creditors.


A debt agreement can be a flexible way to come to an arrangement to settle debts without becoming bankrupt.


How debt agreements work

You negotiate to pay a percentage of your combined debt that you can afford over a period of time.

You make repayments to your debt agreement administrator, rather than individual payments to your creditors.

After you complete the payments and the agreement ends, your creditors can't recover the rest of the money you owe.


Part 10 Debt Agreement 

A personal insolvency agreement (PIA) is one of two agreement options available. A PIA, also known as a Part X (10), is a legally binding agreement between you and your creditors.


A PIA can be a flexible way to come to an arrangement to settle debts without becoming bankrupt.


A personal insolvency agreement involves:


The appointment of a trustee to take control of your property and make an offer to your creditors.

The offer may be to pay part or all of your debts by instalments or a lump sum.

Other important information you need to know includes:

There are no debt, asset or income limits to be eligible for a PIA.

The length of your PIA will depend on what you negotiate with your trustee and creditors.

You may retain your assets (such as house or car) if the terms of the agreement allow.

Fees apply to process, propose and manage the agreement. You must speak to a trustee about the fees they may charge.

You may not be released from all debts


Annul Your Bankruptcy

What is an annulment?

Annulment is the cancellation of a bankruptcy. There are three ways you can annul your bankruptcy:


Pay debts in full

This includes interest, realisations charges and your trustee’s fees and expenses. Contact your trustee to discuss this process.


Arrange a composition

Your creditors accept an arrangement we call a composition. This is an offer of something less than payment in full.


Prove it in court

You successfully prove to the court that you should not have become bankrupt. For example - someone stole your identity. We recommend you seek your own legal advice regarding this process.


If your annulment is successful, your name remains on the National Personal Insolvency Index (NPII) with your bankruptcy listed as 'annulled'.


Negotiations with Creditors


Sometimes bankruptcy may not be your best option, especially if you have too much equity in your assets.  There are also some types of employment that may be affected by bankruptcy.  However, your debts still exist and you may still be in a position where you can’t afford to pay them back.  Sometimes all it takes is to engage a third party to contact your creditors on your behalf to negotiate with them to reduce the total amount of your debts.  Suddenly your repayments become more affordable.  

Another situation is when you want to declare bankruptcy on other debts, and also have a vehicle that is worth a lot less than what you owe on it.  We have been very successful in negotiating with the finance companies to have vehicles removed as security to the loans for a much lesser value, and then you can declare bankruptcy on the remaining debt.

If your bankruptcy process takes some time, then we can also have them contact us instead of you, while you go through the process.  One of the biggest stresses that people deal with is the constant and annoying harassing phone calls you get from your creditors, especially debt collectors.  We can take that away from you.


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