The process on how to go bankrupt in Australia can be quite overwhelming so at My Bankruptcy we try and make it as easy and as painless for you as possible. Our business is built around taking the stress out of your hands and completing your entire bankruptcy application for you. From determining whether you are eligible right through to the lodgement of your application, we take care of it all.
Often individuals may try and work through their own bankruptcy. This may work if you understand:
1. Who you need to contact
2. What information you need to collect
3. How to compile this information
4. What documents you need to complete
5. How to complete this documentation
6. Determining if you need to complete or even provide certain reports or documents
7. How to obtain the required reports or documents
8. An Understanding of which reports and documents to provide and for which section of the application.
9. How to lodge these reports or documents correctly
10. What documents you need to provide copies of
11. Where to get information regarding your creditors
12. How to report information about your creditors
13. Where to get information regarding your debtors
14. How to report information about your debtors
And so much more
The process on how to go bankrupt in Australia can be complicated and frustrating. Dont leave it to chance. My Bankruptcy will make it as simple and as easy as possible.
The process of Bankruptcy is as follows:
1. Determine your eligibility for bankruptcy.
2. Determine that Bankruptcy is your best option.
3. Obtain the necessary information.
4. Obtain the necessary documentation.
5. Complete a statement of affairs. This is a 25 page document wherein you are required to report detail of the following:
Personal details
Work or previous work details and history
Income information
Dependent Information
Personal Identification information
Details of professionals you may use such as Accountants and Lawyers and reports from these professionals with information to lodge as part of the application.
Details of Children and child support.
Details of any legal action.
Health Insurance details
Superannuation details
Details and possible reports concerning assets, including vehicles, houses etc.
Details and possible reports of previous businesses or companies.
And much more.
6. Completion of Debtors Petition. This is an application to the Australian Financials and Securities Authority of your intent to declare bankrupt.
7. Lodge the application with The Australian Financial and Securities Authority
8. Receive any rejected applications and remedy the reject reason, then correctly and completely re-lodge the application.
9. Obtain the Bankruptcy Number.
Not completing the bankruptcy process correctly will result in:
The application being rejected,
The Application never being lodged.
Delays
Upset
Time delays
More money being paid to companies or individuals you owe.
Frustration,
More stress
At My Bankruptcy, we take care of the entire process for you. There is no need for you to work with the courts or anyone you owe money to. We take care of it all for you. Your questions on how to go bankrupt in Australia will be effectively solved.
Simply complete the Bankruptcy Evaluation and we will start the ball rolling and take it all out of your hands. We can have you bankrupt and debt free in as little as one week!
Imagine that. No more debt stress, no more phone calls, no more collection letters. You can at last have a fresh start. If you are experiencing personal insolvency in Australia, turn to us right away!