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Apply for Bankruptcy in Australia
About
Us
Who We Are
M.C.A.
LAW FIRM
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Specializing in Bankruptcy, Commercial Law & Litigation, Labor & Employment,
Estate Planning, Personal Injury,
Divorce and Immigration matters.
What
Is Bankruptcy
Bankruptcy
Bankruptcy is a legal process where you're declared unable to pay your debts. It can release you from most debts, provide relief and allow you to make a fresh start.
Eligibilities
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You are unable to pay your debts when they are due (insolvent) and
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You are present in Australia or have a residential or business connection to Australia.
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There is no minimum or maximum amount of debt or income you need to be eligible.
There is no fee to apply for bankruptcy.
Voluntary Bankruptcy
You can enter into voluntary bankruptcy. To do this you need to complete and submit a Bankruptcy Form. It's also possible that someone you owe money to (a creditor) can make you bankrupt through a court process. We refer to this as a creditor's petition.
Bankruptcy normally lasts for 3 years and 1 day.
Which debts does bankruptcy cover?
✓ Unsecured debts
In some cases, you may need to confirm with the creditor to see if bankruptcy covers the following:
1. Centrelink debts
2. Australian Taxation Office debts
3. victims of crime debts
4. toll fines.
Bankruptcy doesn't cover all debts
Bankruptcy doesn't cover all debts, including:
1. court imposed penalties and fines
2. child support & maintenance
3. HECS & HELP debts (government student loans)
4. debts you incur after your bankruptcy begins
5. unliquidated debts (e.g. a debt where you and your creditor are yet to determine the amount).
Contact
Us
Suite 508, 321 Pitt Street, Sydney,
NSW 2000
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Email: info@mcalai.com
Tel: (61) 2 9889 1689
Fax: (61) 2 9887 2932
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