Bankruptcy

What is Bankruptcy?

Bankruptcy is appropriate for people who can no longer afford to repay their debts and have little or no assets to protect. Bankruptcy is designed to give people a fresh start in life and for that reason it doesn’t last a life time. Most bankruptcy cases only run for three (3) years.

If you only have minimal assets like a car (worth less than $7,700) or tools of trade (worth less than $3,750) and have no or little equity in a house then bankruptcy could be your best option. If you have assets which exceed these amounts, you may wish to keep consider an alternative to bankruptcy (like a Debt Agreement or a Personal Insolvency Agreement).

Bankruptcy does have some consequences which we strongly recommend that you become familiar with before you make any decision.

Our bankruptcy Service – starting from $80 per week

At CRS we offer a personalised bankruptcy service to Australians who wish to file for
bankruptcy voluntarily. Our fees to administer your bankruptcy starts from $80 per week on the basis that you have no assets which vest in the Trustee or you are not liable to pay statutory income contributions. If you become liable to pay statutory income contributions or you have assets which vest in the Trustee in Bankruptcy which must be sold during the course of your bankruptcy, our fee to administer your bankruptcy may be more than $80 per week.

Call us today on 1800 210 073 to discuss this service on a confidential basis.

Our Bankruptcy form filling services – starting from $800

If you would like to file for bankruptcy and have the Australian Financial Security Authority (AFSA) be your Bankruptcy Trustee, CRS also offers a professional bankruptcy form service. We offer this service for a once off fee of $800.

Our staff are highly proficient and will guide you through the process of completing the bankruptcy forms to ensure that it is done properly.

As part of our service we’re happy to review your circumstances to see if there is any alternative solution for you other than bankruptcy.

It is important that you fully understand the consequences of going bankrupt before you head down the path.

Call us today on 1800 210 073 to speak to a bankruptcy expert to see if this service is the right one for you.

 

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