At CRS we offer a personalised bankruptcy service to Australians who wish to file for bankruptcy on a voluntary basis. Our fees to administer your bankruptcy, which is completely voluntary 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.

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 $600.

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.

Have you been looking for an alternative to bankruptcy?

Here at CRS we offer a full range of personal insolvency solutions for people who want to avoid formal bankruptcy.

These alternative solutions are known as:

• Debt Agreements, and
• Personal Insolvency Agreements.

Both a Debt Agreement and a Personal Insolvency Agreement share some common features:

• The agreements provide for an affordable payment plan which we negotiate directly with your creditors;
• Usually creditors will accept less than 100 cents in the dollar so you will benefit from a reduction in the total debt and any amount unpaid at the end of the agreement will be legally written off;
• The agreements are over a flexible period of time so as to make the repayments more affordable;
• All of the debt balances are effectively combined so you will only have to make
  one regular payment to cover all creditors (i.e. a single weekly, fortnightly or monthly repayment).
• We will handle all payments to your creditors and all enquiries from your creditors;
• The agreements will provide immediate protection from any unsecured creditors
  threatening legal action or bankruptcy;
• Once the agreement is set up and agreed with your creditors all interest on your debts will be frozen;

What you earn and what you owe your creditors will determine which agreement is appropriate for you. These are the current thresholds, which get updated every six months.

• Earnings – if you earn less than $139,436 (before tax) or $99,958.95 (after tax)
• What you owe – if you owe unsecured creditors less than a combined amount of $133,278.60
• What you own – if you own assets worth less than a combined amount of $266,557.20

• Earnings – if you earn more than $139,436 (before tax) or $99,958.95 (after tax)
• What you owe – if you owe unsecured creditors more than a combined amount of $133,278.60
• What you own – if you own assets worth more than a combined amount of $266,557.20

Unfortunately there are consequences if you enter into either agreement. These consequences are summarised below for each agreement:

• Your name will be listed on a National Insolvency database known as the NPII;
• Your credit file will be impaired with a Debt Agreement listing for a period of 5 years;
• You will commit an act of bankruptcy, which means at a later stage creditors could
  petition the court for your bankruptcy if the agreement wasn’t accepted by them;
• If you apply for credit (more than $5,882) or you run a business you will need to
  disclose that you are subject to a Debt Agreement

• Your assets will be subject to the control of a Controlling Trustee for a period of 25 business days whilst your creditors consider and vote on your proposal;
• Your name will be listed on a National Insolvency database known as the NPII;
• Your credit file will be impaired with a Personal Insolvency Agreement listing for a
  period of 5 years;
• You will commit an act of bankruptcy, which means at a later stage creditors could
  petition the court for your bankruptcy if the agreement wasn’t accepted by them; and
• You won’t be able to manage a corporation or act as a company director whilst subject to a Personal Insolvency Agreement