- What is bankruptcy? A guide to Australian Bankruptcy
- Why do people file for Bankruptcy? Click here to open drop navigation
- How will bankruptcy affect me? Click here to open drop navigation
- Fact versus fiction: Myths about bankruptcy in Australia
- Frequently Asked Questions in bankruptcy
How will bankruptcy affect me?
Let’s be clear; while bankruptcy is serious, it isn’t the end of the world.
The bankruptcy act is a pretty complex piece of legislation and how it applies to you will be determined by your individual circumstances.
In our experience, the most common areas of concern for people considering bankruptcy are; losing your income, losing your house, losing your car, losing your job or business, being unable to travel overseas, never being able to borrow again, hold bank accounts and/or rent property during bankruptcy.
The good news is that a lot of these fears may disappear once you understand how bankruptcy really works.