If you have debts you are unable to pay you can enter into voluntary bankruptcy. Alternatively, if you owe someone money they can apply to the Court to make you bankrupt.
Bankruptcy is a process which declares you unable to pay your debts. Bankruptcy usually lasts for 3 years and 1 day from the date of bankruptcy. A trustee will be appointed to manage your finances. Though bankruptcy may offer you some relief from your debts, it is not without consequences. It is a serious decision which impacts your life so you should obtain legal advice before making any decisions on entering into bankruptcy.
The Australian Financial Security Authority (AFSA) also has information available if you are considering voluntary bankruptcy. It is important you seek legal advice, however, if you are owed a debt and would like to apply to bankrupt the debtor, if you need to create or serve a Bankruptcy Notice, or if you have been served with a Bankruptcy Notice and would like to set it aside.
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Proper experience in dealing with bankruptcy is essential. Aitken Whyte Lawyers are focused on results. Our litigation and disputes resolution team will advise you on the proper course to take to obtain a Court Judgement and Bankruptcy Notice and recover your money, or to set aside a Bankruptcy Notice that has been served on you.
Aitken Whyte Lawyers can assist you with all bankruptcy matters.
Aitken Whyte Lawyers
11/8 Pikki Street,
Maroochydore Qld 4558
Ph: +617 5408 0655
Fax: +617 3211 9311