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Bankruptcy help for people in bad debt

25th March, 2012No Comments

When your debt takes over

If you are considering bankruptcy help is only a phone call away.

When debt becomes a problem there are a number of positive debt relief solutions you can try to work away at your debt and get your finances back on track.

However, sometimes a person will find themselves in a situation where no matter what they try, bankruptcy is the only way out of debt.

Bankruptcy is a huge process involving many rules, restrictions and changes in your lifestyle.

Declaring bankruptcy can be a very stressful and emotional time in a persons life and it is probably best to seek professional bankruptcy help.

Declaring bankruptcy

When it comes time to declare bankruptcy it is quite simple to go through the process alone. However some people find it easier to seek professional bankruptcy help.

At Debt Rescue our professional case managers can walk you through the entire process, assist you filling in the appropriate paperwork and even running compliance checks so you get it right the first time.

This all-rounded approach and bankruptcy help will ensure the process runs smoothly and you get out of trouble quickly and without any added stress.

The Bankruptcy process

To declare bankruptcy you must be able to prove you are insolvent, which means you don’t have enough money or value in assets to be able to pay off your debts. You must have more than $5000 worth of debt and you must be an Australian citizen.

If you fit the criteria, you need to fill in the official bankruptcy forms available at ITSA, the governing insolvency body in Australia.

If there are any inconsistencies or missed questions on the form, ITSA will send it back to you to complete properly before processing your bankruptcy so it’s important to get it right the first time. This is why bankruptcy help is a good thing to seek out.

Once the forms are processed you will receive a bankruptcy number to quote to your creditors and a trustee will be assigned your case. This trustee will enforce the restrictions and obligations and sell your assets with the proceeds being distributed to your creditors.

Where to turn for bankruptcy help

Before you decide to declare bankruptcy you should seek professional bankruptcy help, information and advice. Bankruptcy can be a very intrusive process so you need to make sure it is the best debt relief solution for you. There are a number of other debt relief strategies you can try before resorting to bankruptcy.

For bankruptcy help, debt advice and information, you can turn to Debt Rescue. We have a huge variety of debt relief solutions for people in  a range of debt situations. From budgeting advice to debt agreements and bankruptcy help, we can assist you. Our friendly and professional case managers talk to hundreds of people just like you everyday and are happy to walk you through your options.

Bankruptcy: We Can Help.

Debt Rescue is dedicated to finding the most appropriate course of action for anyone whose debt has become more than they can manage.

If you if you have questions, or are in financial distress, call us today to talk to a personal bankruptcy specialist. We can offer you bankruptcy help and find the debt relief solution that is right for you.

Talk to an Aussie Who Cares™. Contact Debt Rescue today.

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