File for personal bankruptcy

Resolve your debt situation decisively and get your financial life back.

Carrying unmanageable personal debt is not a life sentence, but the path to resolution requires a clear understanding of the legal tools available and their consequences. Personal bankruptcy under the Bankruptcy Act 1966 (Cth) provides a structured pathway to discharge most unsecured debts, with consequences that vary depending on your assets, income, and the nature of your obligations. We advise individuals at every stage, from the initial decision about whether to file, through the bankruptcy period, to discharge and the fresh start that follows.

What is personal bankruptcy and why does it matter?

Personal bankruptcy is a formal legal process under the Bankruptcy Act 1966 (Cth) that allows an individual who cannot pay their debts to have those debts discharged, generally after three years from filing. Bankruptcy has serious consequences including restrictions on travel, limitations on obtaining credit, obligations to disclose assets and income, and the potential for a trustee to recover property transferred before the bankruptcy. It is, however, often the most effective mechanism available to individuals overwhelmed by unmanageable debt, and understanding what it actually involves is the first step toward making an informed decision.

Will I lose my home if I go bankrupt?

Whether you lose your family home depends on the equity in it. If you have significant equity above any mortgage, the trustee may seek to sell the property and distribute that equity to creditors. If there is little or no equity, it may not be worth the trustee’s effort to force a sale. Superannuation is generally protected in bankruptcy. We can assess your specific assets and give you a clear picture before you make any decisions.

How long does bankruptcy last?

In most cases, bankruptcy lasts three years from the date you file your Statement of Affairs. However, the trustee can apply to extend the period, most commonly if you fail to comply with your obligations such as disclosing assets or making required income contributions. Keeping your obligations current is the most reliable way to ensure you reach discharge at the three-year mark.

What debts are not discharged by bankruptcy?

Most unsecured debts including credit cards, personal loans, trade debts, and judgment debts are discharged on bankruptcy. However, certain debts survive, including child support and maintenance obligations, court-ordered fines and penalties, HECS-HELP debts, and debts arising from fraud. We can advise on which of your specific debts would or would not be discharged before you make any decision.

Can I still work if I go bankrupt?

Yes. Bankruptcy does not prevent you from working. However, if your income exceeds a threshold set under the Bankruptcy Act 1966 (Cth), you will be required to make income contributions to your trustee during the bankruptcy period. The threshold is adjusted periodically and depends on your family situation. We can calculate what your likely contribution obligation would be based on your income and circumstances.

Know what you stand to lose.

A structured path to discharge.

A genuine fresh start.

Find out what your options actually are.

The decision to file for bankruptcy should never be made without understanding the full picture. We provide a confidential assessment of your position, including what you would keep, what you would lose, and whether there is a better alternative, so you can make an informed choice.

Unmanaged debt does not resolve itself, it compounds.

You owe more than you can realistically repay, creditors are escalating their recovery action, and you cannot see a way out. You are aware bankruptcy exists as an option, but you do not know whether it is right for your situation, what you would lose, or how it would affect your life and your ability to work and borrow going forward.

We will assess your financial position and advise on whether personal bankruptcy is the right pathway for your circumstances.
We will explain the consequences of bankruptcy, including what you keep, what you lose, and what restrictions apply during the bankruptcy period.
We will assist you to complete and file the Statement of Affairs and debtor's petition documents.
We will advise you on your obligations to the trustee and how to discharge them properly.
We will represent you if creditors or the trustee take any adverse action during the bankruptcy period.

You are ready to stop running from your debts.

You have accumulated debts, perhaps through a failed business, a relationship breakdown, or a period of serious illness, that have grown beyond any realistic capacity to repay. Creditors have obtained judgments, garnishee orders are biting into your wages, and the calls from debt collectors are a constant source of stress. You have started to wonder whether bankruptcy might give you the clean break you need, but you are not sure what it would mean for your home, your superannuation, your job, and your future.

What's included in your personal bankruptcy service

Solvency and options assessment.
Bankruptcy consequences advice covering assets, income, and restrictions.
Statement of affairs and debtor's petition preparation.
Filing with the Australian Financial Security Authority.
Ongoing advice and representation during the bankruptcy period.

What happens if you keep waiting.

Without a structured resolution, personal debt situations tend to compound. Interest accrues, judgment debts attract enforcement costs, and creditors continue to pursue you through garnishee orders and property seizures. A debt that was manageable two years ago can grow to a figure that no realistic repayment plan can reach. The emotional toll of sustained creditor pressure affects work performance, relationships, and health in ways that make the underlying financial problem worse, not better. Waiting does not make the debts go away. It usually makes them larger and narrows the formal options available.

Here is how we help you resolve it cleanly.

We start with a complete picture of your financial position, including assets, liabilities, income, and the nature of the debts involved. From that starting point, we advise on whether bankruptcy is the right tool or whether an alternative arrangement might better suit your circumstances. If bankruptcy is the right path, we manage the paperwork, ensure the filing is accurate, and prepare you for the obligations you will carry during the three-year period. Most importantly, we help you understand what bankruptcy actually means for your day-to-day life, so that when you reach discharge, you are ready to move forward.

How we walk you through it.

A clear three-step process.

Understand your options.

We assess your debts, assets, and income and advise on whether bankruptcy is the right pathway, including alternatives.

Prepare and file.

We prepare your Statement of Affairs and debtor's petition, review them for accuracy and completeness, and file with the Australian Financial Security Authority.

Manage the process.

We advise you on your obligations to the trustee throughout the three-year period and represent you if any issues arise, including challenges to exempt assets or income contribution assessments.

Experienced bankruptcy lawyers here to guide you through.

We understand that arriving at the decision to consider bankruptcy is not easy. It often follows months or years of stress, creditor pressure, and difficult conversations with family. Our lawyers have assisted many individuals through the personal bankruptcy process and know how to handle both the legal and practical dimensions with care. We will give you a clear, honest assessment of your position and help you make an informed decision, without pressure.

We understand you want to know the cost, before we get started.

We will map out our process, from beginning to end, so you know what the journey will look like before you get started.

We will provide you with a clear and detailed Work Proposal covering each step along the way.

Our fair fees are all-inclusive. No hidden costs for telephone calls, emails, photocopying, couriers, or coffee.

Our great lawyer guarantee

We want to be part of your team over the long term. We achieve this by adhering to these core principles:

Take the time

We listen carefully to understand what you want to achieve. Then we thoroughly explain our advice and step you through the documents. You can be sure you know the full consequences.

Share our knowledge

We will pass on as much knowledge as we can, so you can make your own informed decisions. We want to make you truly independent.

Stick to our knitting

We only do what we're good at. You can be confident that we know what we're doing and don't pass on the cost of our learning.

Work as one team

Someone will always be available to answer your questions, or point you in the right direction. You will also benefit from a range of perspectives and experience.

Fair pricing

For advice and documents, we provide a fixed or capped quote so you don't take price risk. If you're in a dispute, we map out the process and costs so you know what to expect.

It's your show

We're not in this for our egos. We're in it for a front row seat to witness your success.

Take the first step toward resolving your debt.

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