The Bankruptcy Amendment (Enterprise Incentives) Bill 2017 has now lapsed The controversial Bankruptcy Amendment (Enterprise Incentives) Bill 2017 officially lapsed on 1 July 2019 and as such will no longer be proceeding. If the Bill was passed, it would have had the effect of amending the Bankruptcy Act 1966 so that the default period of […]
If you are worried about your financial position as a result of a failed business, bad investment or personal guarantee, we can help.
Our Insolvency Lawyers can provide you with practical advice and assistance to help you overcome the stress and implications of personal insolvency.
Bankruptcy & Personal Insolvency
Bankruptcy and personal insolvency often cause people huge amounts of stress, but it doesn’t have to be this way. If you are being chased by creditors that you simply cannot afford to pay or if you have been served with a Bankruptcy Notice or Creditor’s Petition it’s important to seek advice without delay.
Where your personal financial circumstances are dire or your creditors are uncompromising, we can advise you in relation to your options under the Bankruptcy Act including available alternatives to Bankruptcy such as Debt Agreements and Personal Insolvency Agreements.
Creditor’s Petitions for Bankruptcy
Most Creditor’s Petitions for Bankruptcy are made in reliance upon a person’s failure to comply with a Bankruptcy Notice within 21 days. If you have received a Bankruptcy Notice and wish to avoid Bankruptcy do not delay, call now and speak to one of our experienced Insolvency Lawyers.
The Real Reason for Insolvency
This is an important question, the answer to which must always be carefully considered.
Often the real reason for insolvency is because a person received poor or negligent advice about a business transaction or investment or was misled into signing an agreement or guarantee.
If this is the case we can assess whether you have an available defense to a creditor’s claim or a claim against a third party that may lead to compensation to enable you to avoid Bankruptcy.