Declaring Bankruptcy in Australia: What you need to know

Share this & earn $10
Go To Court Lawyers
Published at : 05 Dec 2020
16220 views
96
7

LEGAL HOTLINE: 1300 636 846, 7am to Midnight, 7 days
Get a Good Lawyer. Fast. http://gotocourt.com.au

In Australia, if you are unable to pay your debts, and your attempts to come to an agreement with your creditors about repayment have failed, then you may be faced with the prospect of declaring bankruptcy. Declaring yourself bankrupt involves having a Trustee appointed to take control of your assets and income so that they can pay down your debts and discharge them.

Before you consider declaring bankruptcy, you need to understand the consequences, as it will have serious repercussions for your future. An understanding of the bankruptcy laws, along with expert legal advice, will allow you to make an informed decision about your financial situation.

You can become bankrupt either by declaring bankruptcy yourself through what is known as a ‘debtor’s petition’, or by order of the Federal Court following an application by one of your creditors, known as a ‘creditor’s petition’.

If you would like to enter into bankruptcy voluntarily by Debtor’s Petition, you need to lodge an application with the Australian Financial Services Authority or AFSA. Read more : https://www.gotocourt.com.au/civil-law/declaring-bankruptcy/

Here’s why people select Go To Court Lawyers:
* Guaranteed availability
* Simple, upfront rates - no hidden costs
* Experienced lawyers with solid track record
* Expert advice and strong representation

SUBSCRIBE!
http://www.youtube.com/channel/UC9DU9m1BL8BbUvgC5bDzB-w?sub_confirmation=1

LET'S CONNECT!
Go To Court Lawyers
-- https://www.facebook.com/gotocourt/
-- https://plus.google.com/+GotocourtAulawyers/
-- https://twitter.com/gotocourtlawyer
-- https://instagram.com/gotocourtlawyers/
-- https://www.pinterest.com/gotocourt/
-- https://www.linkedin.com/company/go-to-court
solicitorgotocourt lawyersBankruptcy

Anyone have settings that allow you to NOT use raft on a replicator plus

Anyone have settings that allow you to NOT use raft on a replicator plus

School House Rock - The Constitution

School House Rock - The Constitution

Dealing with Difficult Times in Life

Dealing with Difficult Times in Life

28 Wear   Llevar Puesto, Ponerse, Los Colores

28 Wear Llevar Puesto, Ponerse, Los Colores

20 Women With Unique Features From Around The World

20 Women With Unique Features From Around The World

Kevin Costner Opens Up About A Potential ‘The Bodyguard’ Sequel | PeopleTV | Entertainment Weekly

Kevin Costner Opens Up About A Potential ‘The Bodyguard’ Sequel | PeopleTV | Entertainment Weekly

The Lost Primarchs EXPLAINED By An Australian | Warhammer 40k Lore

The Lost Primarchs EXPLAINED By An Australian | Warhammer 40k Lore

Just A day At The Range

Just A day At The Range

Guess who's back…Back again…Alfonso's Back - Cosmetic Limb Lengthening Surgery To Get Taller

Guess who's back…Back again…Alfonso's Back - Cosmetic Limb Lengthening Surgery To Get Taller

What is VIRTUAL WORLD? What does VIRTUAL WORLD mean? VIRTUAL WORLD meaning, definition & explanation

What is VIRTUAL WORLD? What does VIRTUAL WORLD mean? VIRTUAL WORLD meaning, definition & explanation

1. Foundations of Educational Psychology

1. Foundations of Educational Psychology

3 Most Desirable Women Of All Zodiac Signs Are You One Of Them ?

3 Most Desirable Women Of All Zodiac Signs Are You One Of Them ?

How I passed the AWS Solutions Architect Associate and Professional Exams on the First Try!

How I passed the AWS Solutions Architect Associate and Professional Exams on the First Try!

An Iron Age Pit is Stuffed with 25 Victims of Human Sacrifice

An Iron Age Pit is Stuffed with 25 Victims of Human Sacrifice

Educated  - Nathan Fouts (Audio)

Educated - Nathan Fouts (Audio)

SuGar SG1 acoustic guitar build part 14:  Making the mould

SuGar SG1 acoustic guitar build part 14: Making the mould

Jill Scott - Slowly Surely

Jill Scott - Slowly Surely

The overpowering power of Enchantments (and Angels) | M21 Historic Deck Guide (MTG Arena)

The overpowering power of Enchantments (and Angels) | M21 Historic Deck Guide (MTG Arena)

Beyond elections; Which way forward for Uganda? - NBS Frontline seg3

Beyond elections; Which way forward for Uganda? - NBS Frontline seg3

Видове хора в интернет

Видове хора в интернет

ASK UNMC! What types of medications are used for Rheumatoid Arthritis?

ASK UNMC! What types of medications are used for Rheumatoid Arthritis?

The David Attenborough Netflix Special - Allegedly Possibly Maybe Podcast #10

The David Attenborough Netflix Special - Allegedly Possibly Maybe Podcast #10

FRONT AND BACK SIDES OF FACES in SketchUp and Why They Matter

FRONT AND BACK SIDES OF FACES in SketchUp and Why They Matter

Here's a smarter way to save money!

Here's a smarter way to save money!

The Universe Will Put Everything In Your Lap If You [ START DOING THIS 4 TIMES A DAY FOR 2 WEEK'S ]

The Universe Will Put Everything In Your Lap If You [ START DOING THIS 4 TIMES A DAY FOR 2 WEEK'S ]

I Ate Nothing But MYPROTEIN Products For 24 Hours... *WHEY TOO MUCH PROTEIN?!*

I Ate Nothing But MYPROTEIN Products For 24 Hours... *WHEY TOO MUCH PROTEIN?!*

Memory Foam Mattress Production Process!

Memory Foam Mattress Production Process!

Create space with THIS match skill

Create space with THIS match skill

DIY Iphone 12 Pro Max Notebook Organizer

DIY Iphone 12 Pro Max Notebook Organizer

Get off message ✋ pleasure seekers part #1

Get off message ✋ pleasure seekers part #1

2021 African American Male Academic Bowl

2021 African American Male Academic Bowl

Motivation video for students and youngsters

Motivation video for students and youngsters

New evidence AGAINST dark matter?!

New evidence AGAINST dark matter?!

The Offspring - Turning Into You Lyrics [HQ]

The Offspring - Turning Into You Lyrics [HQ]

How to Climb and Carry as Support | Challenger Support Tips and Tricks - League of Legends

How to Climb and Carry as Support | Challenger Support Tips and Tricks - League of Legends

How Things Were Named - Merrell Twins

How Things Were Named - Merrell Twins

A Day's Past - Abaddon (New Song 2010) HQ

A Day's Past - Abaddon (New Song 2010) HQ

WHEN GOD HAS STRATEGICALLY PLACED SOMEONE THAT WILL LOVE AND CARE FOR YOU THIS WILL HAPPEN

WHEN GOD HAS STRATEGICALLY PLACED SOMEONE THAT WILL LOVE AND CARE FOR YOU THIS WILL HAPPEN

Nightcore - Middle of the Night (Elley Duhé) - (Lyrics)

Nightcore - Middle of the Night (Elley Duhé) - (Lyrics)

TOPPOP: Sailor - Traffic Jam

TOPPOP: Sailor - Traffic Jam

ODBIERZ 20€ od VIVID 🤑 Aplikacje Do Zarabiania 2020 🚀

ODBIERZ 20€ od VIVID 🤑 Aplikacje Do Zarabiania 2020 🚀

Introduced species and biodiversity

Introduced species and biodiversity

This $16,000 Eyelid Surgery Is Done While You're Awake | The Plastics | Harper's Bazaar

This $16,000 Eyelid Surgery Is Done While You're Awake | The Plastics | Harper's Bazaar

Retailers vs Wholesalers   ( MBA COURSE ) IN HINDI

Retailers vs Wholesalers ( MBA COURSE ) IN HINDI

Kelly Clarkson - Anytime (Lyrics)

Kelly Clarkson - Anytime (Lyrics)

TOUCH IT - YOUR GIRL GROUP (4 MEMBER VER) {COLOUR CODED LYRICS + LINE DISTRIBUTION}

TOUCH IT - YOUR GIRL GROUP (4 MEMBER VER) {COLOUR CODED LYRICS + LINE DISTRIBUTION}

Royal expert: Harry and Meghan's baby will be "significant"

Royal expert: Harry and Meghan's baby will be "significant"

Obama warns of 'strange and uncertain times' in Mandela tribute

Obama warns of 'strange and uncertain times' in Mandela tribute

Describe a person who taught you something important I  Sep to Dec Cue Cards 2020 I IELTS Speaking

Describe a person who taught you something important I Sep to Dec Cue Cards 2020 I IELTS Speaking