If you find yourself in a position whereby you are unable to pay your debts and cannot come to a suitable repayment arrangement with your creditors, you may decide to voluntarily petition to become bankrupt. In this case, it is important to know what declaring bankruptcy means.
Times have changed; last year more than 26,000 Australians declared themselves bankrupt. While it may not have been what you dreamt of doing when you grew up, it can be the only way of getting yourself out of a hard place.
Bankruptcy is one way in which the government helps those in debt move on and start again. It’s basically a legal declaration that you can’t meet your debt requirements.
When you are overwhelmed by debt there’s no better feeling than waking up totally debt free. You don’t have to keep struggling with the burden of debts that you honestly will never be able to repay.
Before you declare bankruptcy make sure you;
- Speak to a debt expert before making the decision
- Review every avenue
- Understand what declaring bankruptcy means and how it will affect your life
Debt Helpline is one of the largest Debt Administrators in Australia. We help thousands of people every year who are now well on their way to being debt free, if they aren’t already!
So if you have been through all the options and are serious about start again bankruptcy solutions and moving forward with declaring bankruptcy, then call us on 1300 802 905 today for a free, no obligation consultation and let us help you get back on your feet with a fresh financial start.