Dec 05

What Assets Can I keep and Buy in Bankruptcy

Only some assets are protected in bankruptcy! A bankrupt can keep the following assets up to the following limits: Car $7,350 A bankrupt cannot own a car worth more than $7,350.  If your car is worth more than this amount, your Bankruptcy Trustee will be able to sell the car, or you will need to […]

Nov 26

Understand the Restrictions of Bankruptcy

Step 5 – Understand the Restrictions of Becoming Bankrupt adobe creative suite You should fully understand the restrictions which bankruptcy may place on your life before declaring yourself bankrupt. If you can avoid bankruptcy by entering into a Debt Agreement or a Personal Insolvency Agreement, you may be able to avoid some of these restrictions […]

Nov 19

Don't Commit an Offence whilst bankrupt

Be careful not to inadvertently commit an offence whilst you are bankrupt. Committing an offence whilst you are bankrupt could lead to your bankruptcy being extended for up to 5 or 8 years and in some cases can lead to a prison sentence and/or a fine. Listed below are some offences described in the Bankruptcy […]

Nov 19

What do I need to know about becoming bankrupt?

adobe cs6 trial download If you are thinking about personal bankruptcy you are probably feeling stressed due to the pressure you are getting from your creditors constantly calling and sending overdue letters or demands. If you are feeling stressed with the constant barrage of phone calls and letters from creditors chasing and demanding payment and […]

Aug 20

2 Step Plan To Avoid Bankruptcy

For many, bankruptcy is a final resort that should only be contemplated when all other options have been properly considered and investigated. If you want to avoid bankruptcy, follow these steps: Step 1 The first thing that must be done if you want to avoid formal bankruptcy is to determine if you are financially insolvent […]

Jul 20

Declaring Voluntary bankruptcy

To declare bankruptcy on a voluntarily basis, you must fill out and submit the necessary bankruptcy forms. At Get Debt Free we offer a bankruptcy form completion service where we will assist you to complete these forms for a fixed fee of $400. On these forms you must provide details about yourself and your personal […]

Jun 15

Are you looking for an alternative to bankruptcy?

Have you realised that you have more debt than you are able to afford and don’t know what to do? Maybe you have had a recent crisis, lost your job or can no longer work and your debts are mounting up. Often in these circumstances, people believe that bankruptcy is their only option. It’s not. […]

Oct 13

Bankruptcy Statistics April to June 2011

Business/Non-Business Bankruptcy Statistics April to June 2011. ADMINISTRATIONS UNDER THE BANKRUPTCY ACT 1966 STATISTICS (PROVISIONAL*) JUNE QUARTER 2011 BANKRUPTCIES (Parts IV and XI) Business Non-business Total Related Related NSW 391 1546 1937 ACT 10 33 43 VIC 176 949 1125 QLD 375 1133 1508 SA 57 307 364 NT 5 16 21 WA 109 326 […]

Oct 13

Bankruptcy Solution

Are you having too much debt that you unable to pay? In this desperate financial situation, you may think bankruptcy is your only option. It is important to seek professional advice from Get Debt Free before declaring yourself bankrupt. Our staffs are specialising in Bankruptcy Solution for Australians. We will assess your extreme situation and […]

Aug 13

AFSA’s role in Bankruptcy

Who is AFSA? The Insolvency Trustee Service Australia (AFSA) is the federal government agency who administers and regulates the personal insolvency regime in Australia. AFSA has an office in every capital city of Australia. The Australian Bankruptcy Act creates separate roles for delegates appointed by the Minister and office of the Official Trustee in Bankruptcy. […]