Here at CRS Insolvency Services, we understand that the process of filing for bankruptcy can seem difficult and daunting. However, our personal insolvency advisors have helped simplify the process for you.
Here’s what’s required to file for bankruptcy in Australia:
Choosing a Bankruptcy Trustee
There are two options when appointing a bankruptcy trustee.
The first option is to appoint the Official Trustee from the Australian Financial Security Authority (AFSA). If you lodge your application directly with AFSA, the Official Trustee will automatically become your Bankruptcy Trustee.
Otherwise, for your second option, you can choose to appoint a Registered Trustee in private practice. A registered Trustee must be registered by AFSA to accept appointments under the Bankruptcy Act. If you choose this option, you must lodge your application with the Registered Trustee as they will need to sign and attach a Consent to Act with your application.
Completing the Bankruptcy Forms
You will need to complete the following forms before AFSA will accept your application:
- Debtor’s Petition; and
- Statement of Affairs
AFSA may also request certain supporting documentation to support the information provided in your Statement of Affairs.
Here at CRS Insolvency Services, Anthony Warner is our in-house Bankruptcy Trustee if you choose to appoint a Registered Trustee. If you want bankruptcy advice that you can trust call CRS Insolvency Services on 1800 210 073 today.