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Definition of Bankruptcy.
An
insolvency procedure that applies to a natural person, not to a
company. Where
people, who cannot pay their debts become bankrupt to receive the
protection of the Bankruptcy Act and their estate is administered by
a trustee. It allows for the fair distribution of property among
creditors and the prosecution of dishonest debtors.Definition
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Having someone to help you
Why pay someone to do this?
Many things can go wrong. Here is one simple example.
We had a client who needed to declare bankruptcy. Her situation was one where there was no expectation that she would have to pay income contributions.
Six months after her bankruptcy she received a letter from her trustee saying that she had to pay $283.00 every fortnight. Now as she had no debts she thought she may be able to manage this. However in the back of her mind she was sure that she was told she wouldn't have to pay anything once she was made bankrupt.
We had handled her bankruptcy so she called us to confirm whether she should have to pay these income contributions. We looked at it and said no there is something that is not right. We told her to leave it with us and we will sort it out.
This meant she didn't have to deal with the government or the trustee.
We did all this for her. We provided the evidence to have her assessment looked at from a different angle and we had her assessment reduced to nil.
So instead of paying $283.00 per fortnight in contributions she now pays nothing.
Did we charge her anything extra? Not at all, this extra service was covered by the original fee she paid us.
She said she was so glad she had someone to turn to who knew how it worked and what was going on.
Who knows what might happen with your bankruptcy. If you want someone to turn to then that is part of the service we offer you.
Call now. Lines open 7 Days, 8am - 12pm
NSW 02 9623 7860
QLD 07 3613 9648
VIC 03 9993 0116
Friendly
help and service guaranteed all over Australia. We have dedicated phone
numbers for Victoria, Queensland & New South Wales
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