If you go bankrupt, you will still be able to keep some assets.  The government's policy is if you go bankrupt, you must be allowed to survive and still maintain a minimum level of comfort.  The aim is not to have you live on the streets and with that policy in mind the government has protected certain assets in bankruptcy ...

Some companies may try and tell you that it is best to avoid bankruptcy at all costs, but this is not always the case. Every case needs to be individually assessed and if you are a low income earner with few or no assets to protect, then bankruptcy will most likely be the best option. John called Debt Free Australia ...

Paul called us seeking help with his unsecured debts. He had credit cards and a personal loan totalling around $30,000.  He also had a house with equity in it which he wanted to protect. Before Paul called Debt Free Australia he thought bankruptcy was the only solution but after we explained the benefits of a Debt Agreement  and after he ...

A Personal Insolvency Agreement is an agreement for people whose income and or debts are above the statutory thresholds that are set by the government from time to time. We recently helped a couple (Amanda & David) solve their debt crisis be setting up and administering a Personal Insolvency Agreement for them. Their problems started when David lost his job. For around ...