Free Bankruptcy Assistance
Fast, Confidential and no Obligation
Free Bankruptcy Assistance
Fast, Confidential and no Obligation

Are your personal or financials obligations getting out of control?

Are your personal or financials obligations getting out of control?

Our company provides straight-forward bankruptcy information. At Bankruptcy Tablelands we recognize that the very thought of bankruptcy is distressing, and if it becomes a reality it is extremely intimidating. We know that you are without a doubt feeling very overwhelmed, cornered or perhaps like you have zero possibilities left, therefore we would like to help guide you through the process.

But here’s the thing – you’ve actually endured the most difficult part of the process – you have taken that first step towards setting your personal and/or business debts behind you and moving on with your life; you’ve found us.

The next step is undoubtedly to figure out if bankruptcy is simply right for you. There’s a few points you ought to know even before making that choice so we recommend that you continue searching across this site, it has plenty of great information, or you can simply pick up the phone and phone us on 1300 818 575.

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

Are your personal or business debts getting out of control?

Lorem ipsum dolor sit amet, consectetur adipisicing elit. Aut recusandae, nobis? Modi quas, veritatis nesciunt id debitis, hic voluptatem eius cupiditate optio ut itaque fuga est, corrupti repellat fugit repellendus!

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

You Can Be 100 % Debt Free!

Can you picture a future without bankers’ harassing phone calls and even looking forward to the mail again? Generally there are a couple of things you really should know before you make that complicated decision. Firstly, the faster you take action then the more options you are going to have.

5 Questions you should answer well before you declare yourself bankrupt.

There are 5 crucial problems you must have an solution to before you declare bankruptcy. If you want to know what exactly they are, feel free to download our free e-book on the right hand side of this page. This e-book will concentrate on these big 5 questions specifically and give you peace of mind that you are doing the right thing.

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

Get your FREE copy of the Big 5










* We pledge not to bombard you with e-mails and phone calls when you sign up for our free e-book. In fact, we vow to only get in touch with you once to see if we can help you further and that’s it.

Your Insolvency Options

Is Going bankrupt my only real option?

No! There certainly are many options available to you. Listed here is a chart illustrating the benefits and problems of the different debt solutions offered. This chart is certainly by absolutely no means an extensive resource, but it will help you to make a well-informed choice.

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands
Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

What exactly is a Personal Insolvency Agreement?

This is an adaptable understanding between you and your creditors. It is controlled through a trustee who governs how much you will have to pay out and when you have to pay. Once those conditions have actually been met you are generally then free to begin again with a new beginning.

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

What is a Debt Agreement?

A debt agreement permits a debtor to take part in an arrangement with their lenders to pay off their financial debts without being made bankrupt.

You cannot become part of a Debt Agreement if you have been bankrupt, or if you are currently already in a debt agreement. Also keep in mind that there are additionally income restrictions, as well as restrictions on property value and unsecured debt value. If you wish to know more please get in touch with us on 1300 818 575.

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

How do you Choose?

Ultimately it is up to you, but don’t be fooled by certain companies because many of them have a strong bias! The main reason you find an abundance of expensive commercials on the TV in the Tablelands area inviting you to go for one of these alternatives is that there is huge amounts of cash in it for the services that provide them. You will notice (if you haven’t already) that every single business has the tendency to give (biased) recommendations according to the product that they offer. For instance, Debt Agreement Companies ridicule bankruptcy companies as a way of trying to increase their own business. It is pretty common across the industry, so ensure you don’t get fooled. And nor should this website be the only thing you read! We try to give unbiased advice, but please do your research across a range of sources to find what approach is going to be best for you!

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

Should I think about a Debt Consolidation Loan?

There are sometimes the very exceptional conditions where a debt consolidation loan is the best plan. Usually the issue with them is that all it is really doing is packaging 5-15 various debts into one sizable debt. If you are fighting to pay off all your different loans now, then why do you presume it will be magically simpler to get one enormous bill? 9 times out of 10 it is just not going to make it easier. Just to make all of it a whole lot worse you normally will have to pay up front for the ‘ luxury’ of this option. If you wish to get some clarification or more information on this, then just simply contact us on 1300 818 575 or go and download ‘The Big 5’ e-Book.

Bankruptcy and the Family Home

If I file for bankruptcy can I manage to keep my house?

In many cases the answer is yes. If this is a serious issue for you then the most efficient way to get the answer is to contact us here at Bankruptcy Experts Tablelands on 1300 818 575 and when we have an understanding about your circumstances we can offer you a clear picture over the telephone. Practically everyone is emotionally connected to their home; it’s where the kids have grown up, it’s where you appreciate life on a day to day basis. People usually think it’s an unescapable effect of bankruptcy and hence they press themselves to the brink of madness to not give up the family house.

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands
Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

Will the bank allow me to keep my house even if I’m a bankrupt?

Why might the bank want bankrupt customers? Wouldn’t they need to sell your property and not take the chance? Bear in mind – the bank that has generously lent you the money for your house is making good money every month in interest from you, month in and month out. So long as you keep up to date with your monthly payments then the bank prefers you in there at all costs. On the other hand it is usually not the bank’s call – if a trustee concludes that there is plentiful equity in your house the trustee will force you and the bank to sell off your house.

What factors would contribute to losing the house?

Equity! If you are up to date with your repayments then the most important problem is equity. A trustee has a job to get as much money in order to help pay your bills once you go bankrupt. Equity is the ticket here. If you have $300,000 equity in your home and you have $100,000 worth of debt and no other way to settle the debt then the trustee sees your equity as a solution to pay your debt therefore they will sell your house to pay off the debt and give you whatever money remains from the sale.

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands
Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

How is equity worked out?

Many people are not quite confident about what exactly equity is, or how it is calculated– but it is certainly vital to determine considering that if you get it, it can mean the big difference between keeping and losing your home. There are a few factors you have to understand here. To start with, your gut instinct or guess about the real worth of the home is most likely far too generous. Many people presume their house is worth a lot more than it actually is.

Secondly, when you declare bankruptcy the trustee may ask about how you formed your price for the home. Sometimes they will seek more information about your valuation, maybe a rates notice or a real estate agency’s valuation or a registered valuation. An easy strategy would certainly be to look on www.realestate.com.au then click the ‘Sold’ tab on that site and look for the latest house sales in your community or neighbourhood. This will help you get some idea of the reality of the market right now. Remember, the appraisal is based upon a quick sale not a skillful real estate agent’s advertising and marketing campaign. So If you truly want a good idea, I would likely recommend getting a valuer and telling them to give you 2 prices for your house, one as a standard sale, and the other as a ‘quick sale’. This will give you a better appreciation for your home’s worth. Knowing this step is vital, so get some advice before proceeding, call us on 1300 818 575.

What happens if my Partners name is on the mortgage?

Typically when a couple buy a home one income isn’t really enough to qualify for the loan, so the bank/lender will have both partners sign up for the loan. When your home is purchased both names are on the mortgage from the bank and the title deed of the house as joint tenants.

Let’s say Mick and Susie got a home 4 years ago for $400,000 with no deposit so their mortgage was also $400,000. Mick is a plumber and needs to go bankrupt but Susie has a good job teaching and doesn’t have to go bankrupt.

Sadly, the house has not improved in price in the 4 years they have used it and they also have only just managed to pay interest on the loan in that time so basically they still have a $400,000 mortgage on a house worth $400,000.

Mick can then declare bankruptcy and just as long as they keep paying the mortgage, rates etc. they can continue to keep the house for the 3 years Mick is bankrupt. This decision will, in no way, affect Susie’s credit rating or force her to go bankrupt as well. There is plenty to consider when it concerns houses and bankruptcy so if you have questions don’t hesitate to call us about your house on 1300 818 575.

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands
Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

What if My House has too much Equity what can I do?

If your house has plenty of equity and you are nevertheless drowning in debt, there are still some possibilities available to you– it might be complicated, however the significant step is to talk to a professional to try and get ahead of it. In fact, this concerns cars or other assets you may have as well. What you can not afford to do is assume that everything will be ok. It is the bankruptcy trustee’s job to sell whatever assets you have when you file for bankruptcy and put that money towards your debts. Getting this wrong will be disastrous! Before you take your next step get some advice. We offer a free, initial consultation; just call us today on 1300 818 575.

Bankruptcy and Employment

Will my comapny be told?

Commonly there is actually no reason for your company to be advised of your bankruptcy. In situations where you earn more than the threshold amounts of income while you are bankrupt and you are required to make an income payment, you organise those payments yourself, it doesn’t go through your boss.

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands
Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

Who will find out about my bankruptcy?

There are four groups of people that will learn that you are bankrupt.

  1. Individuals that you tell
  2. Your creditors or people you owe money to
  3. . People that see your credit file when you’re bankrupt. However, the only way this will take place is if you sign a privacy form for them to access your credit history. You only ever do this when you apply for a loan.
  4. You will be listed on the National Insolvency Index on the web somewhere. But this is not too big a problem because it is hard to locate and people have to pay to see if a person is bankrupt on it.

At Bankruptcy Experts Tablelands, we are completely conscious that there is still a stigma connected to bankruptcy. We are aware of this issue and we can help to make sure that if you declare yourself bankrupt that you don’t need to go to court, get your name in the newspapers or be publicly made out to be a criminal or some kind of failure. We can help ensure that bankruptcy is swift and easy. In fact, the whole process will only take a few days. It makes it possible for the ordinary person to get out of debt and on with their lives. For more detailed info about bankruptcy and your job, download ‘The Big 5’ e-book.

Will I lose my job if I file for bankruptcy?

The answer to the question is – yes, but only in some cases. The trouble with some professions isn’t that you aren’t able to do the job any more, it’s more an issue of professional bodies or associations that view bankruptcy in a dim light and can make it troublesome for you.

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

What we would certainly suggest is that you do your own research here. It will make a big difference if you investigate this process before filing for bankruptcy because that may really help you decide. Check if your job is on the diagram below. If it is, we recommend speaking with them personally and explaining your scenario. A few organisations won’t have a problem with your bankruptcy so long as it wasn’t accompanied by shady or suspicious practices. If you think your employment may be impacted by your possible bankruptcy call us here at Bankruptcy Experts Tablelands on 1300 818 575.

Bankruptcy Income Thresholds

How much can I make when I’m bankrupt?

There are in fact no constraints on how much you can earn, however if you earn over a certain amount, some of the extra can be taken by the trustee to pay off your creditors. This means that you cannot be choosing not to pay your debts and still take home a 6 figure salary– it just wouldn’t be fair to the individuals you owe money to. So how much can you earn before you start repaying money to your creditors via your trustee?

Well it isn’t a straight forward process, so let’s try and take you through it.

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands
Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

Bankruptcy and Income

First of all, it is important to know that changes are involving the world of bankruptcy. If you have to know what is taking place then focus now. Since March 2016 there have been modifications to the Income Threshold amounts. This suggests that there are modifications to just how much money you can keep when bankrupt. This is your net income after tax and child support (if applicable) are taken off. If you’re in a business when bankrupt then, obviously, it’s also net (after tax) of business spending, which is frequently calculated annually.

Your net income may be governed to consider things like salary sacrifice and substantial superannuation payments etc. Your net income might also enable more unusual costs suffered as a result of being employed. Such as, if you are subjected to an unusually high amount of travel charges to get to and from your job this can sometimes also be taken into consideration. Your bankruptcy trustee has to ascertain your real net income, based on the bankruptcy rules.

The income threshold figures are also per person and are set by the Government every March and September to allow for the movement in the cost of living.

What can my spouse earn if I go bankrupt?

Generally there is no limit to what your spouse/partner can earn. There are a few ramifications that must be thought about in some circumstances, but most of the time your partner is a totally distinct legal entity and will not be affected financially when you declare bankruptcy. Just as a word of caution – this could change if you have joint loans together, so be careful about the implications of that. If you are unsure just call us on 1300 818 575.

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands
Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

Who is considered a dependent?

This may possibly be anybody, of any age, that resides with you and earns no more than $3,343 per year. If, in the case you have a child or children that you pay child support for and they do not live with you full-time, then you can not claim these particular children as dependents.

What happens if my spouse or partner and I both need to go bankrupt?

If a couple have to both declare bankruptcy and you have no dependents then you can each earn $1,048.25 net. An useful way to understand it is the same income rules apply for each person individually.

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

Self Employment & Bankruptcy

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

Can I forfeit my small business if I go bankrupt?

The straightforward answer is no, you don’t have to but you do need to get the best guidance. Company insolvency laws are very entailed and you need to tread cautiously if you wish to continue to be self-employed.

You may already recognise that you can no longer be the director of a Pty Ltd Company if you are bankrupt. Even so, that doesn’t inevitably mean you can’t run your very own business and recruit staff etc.

What if I have both Business and Personal Debts?

If you are a businessmen and you have a combination of individual and business debts then it’s possible to have most, or even all, of the debts eliminated with bankruptcy. Just remember this is a challenging process and needs special attention. The truth is, personal bankruptcy will not automatically imply company bankruptcy also.

Regardless if you administer your business as a Sole Trader, Partnership, Company or Trust we can help guide you with your options. Don’t hesitate to contact us on 1300 818 575 for a no commitment FREE consultation.

Should I place my business into liquidation?
Among the main reasons you may wish to consider liquidation as opposed to bankruptcy is due to the fact that if you liquidate your company, it doesn’t inevitably mean you need to go bankrupt. In Australia, businesses that become insolvent have a few choices, just like liquidation, voluntary administration etc. If you need to know more call us on 1300 818 575.

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands
Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

Should I put my company into liquidation?

Among the main reasons you may wish to consider liquidation as opposed to bankruptcy is because if you liquidate your company, it doesnt inevitably mean you have to go bankrupt. In Australia, businesses that become insolvent have a few options, such as liquidation, voluntary administration and so forth. If you need to know more call us on 1300 818 575.

What effect will bankruptcy have on my company?

There are rules for business owners that are bankrupt. As an example, as a bankrupt business owner you can be in your own business as a sole trader only. For a number of small business owners, bankruptcy can impact their ability to administer the business because of the licensing concerns. For instance, a builder with a builder’s license can not actually continue to use that license for the 3 years he or she is actually bankrupt.

There are other implications for business owners whilst bankrupt that should be considered. In case you have to know even more about this just feel free to give us a call for a no responsibility, free consultation on 1300 818 575.

Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands
Bankruptcy Tablelands,Bankruptcy Notice Tablelands,Bankruptcy Help Tablelands

Isn’t it illegal to run a similar business after bankruptcy?

It could be. There are points to consider when and if you declare bankruptcy as a small business owner. You can not run up heaps of debt in your company, then go bankrupt and after that open the doors the next day like nothing has happened. There are laws in effect to avoid these ‘Phoenix companies’ rising out of the ashes of an old company. Don’t get too stressed about what you can and can’t do as a company owner; just get the right advice by calling Bankruptcy Experts Tablelands today on 1300 818 575.

Our Clients

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce scelerisque nibh et neque faucibus suscipit. Sed auctor ipsum ut tellus faucibus tincidunt.

Copyright © 2016 Bankruptcy Tablelands.