Don’t rush into it! Weigh up the benefits against the long term consequences.
Are You Facing Bankruptcy?
If you are having trouble paying your personal debts, and if you are constantly being harassed by creditors, it may be that you are trading insolvent.
Our Licenced Experts Provide:
Assess Your Current Situation
Develop a Plan Of Action
Understand Your Obligations
Understanding Your Options in Bankruptcy
Are you being harassed by creditors? Under this type of pressure, you may think that declaring yourself bankrupt is the only way out. But that is not the case.
Bankruptcy is but one of your options. However before you declare yourself bankrupt, you need to understand the very negative, and long term effects such a decision will have on you.
You also need to appreciate the fact that there are other informal and formal measures that can be taken to avoid full blown bankruptcy .
We are Insolvency Experts and will explain all your options, free of charge to help you decide what is the best course of action before you file your debtors petition.
Do You Need Help ?
Call 1300 767 525 to speak with us, or fill in your details below and one of our expert advisors will get back to you within 30 minutes!
Investigate the pros and cons of Bankruptcy
Before you declare bankruptcy, you must consider all the alternatives.
You must also weigh up whether the short term benefits of bankruptcy are worth the long terms difficulties that you will encounter after declaring bankruptcy.
For instance, while declaring bankruptcy may relieve you of the stress of constant creditor harassment, such a decision will affect your ability to borrow funds, or purchase a property, or even rent a house for many years after the completion of the 3 year bankruptcy period.
Bankruptcy has a very serious and long term negative effect on your personal credit rating. In this regard, commercial credit ratings agencies will record your bankruptcy for at least 7 years. In addition to this, a government listing known as the National Personal Insolvency Index – will record the fact of your bankruptcy – for life.
The Insolvency Experts are trained to provide you accurate and unbiased advice and information on bankruptcy.
If you are experiencing financial stress and would like more information on the process of declaring yourself bankrupt, talk to us about all the options first.