A1 Debt Assistance - Bankruptcy Help Australia

A1 Debt Assistance - Voluntary Bankruptcy Services Australia

Call   1300 79 74 73   Bankruptcy Hotline   

e:   info@a1debtassistance.com.au    
     

Free Bankruptcy Information page + Free phone consultation - strictly confidential!


Bankruptcy law protects people who are insolvent.

Q: How do I know if I am insolvent? 
A: You are officially insolvent if you can no longer pay your bills as and when they fall due.

On this page you will find out about all the things that may concern people in Australia who are considering to file for voluntary bankruptcy. We talk about your car, house, jobs and income, etc. If you are a business owner or operating under your own ABN - please click here to visit our business bankruptcy page.

A1 Debt Assistance can have all your bankruptcy documents completed professionally in a matter of days - making you debt free and giving you the fresh start you need.
 
 Declaring Bankruptcy should never be a decision taken lightly, but with the right information at hand, bankruptcy can be your most effective debt solution. 

Applying for bankruptcy can be a complex step, but with our service, your bankruptcy forms and file of evidence can be ready for lodgement within days. We will complete all forms for you and totally remove you from the stress of that task.

Our Bankruptcy Service is fast! - Our fees are very modest.
We have been there and know what it is like to be going through tough times.

Forget the stigma. None of your friends or associates need to know about your bankruptcy. 

Check out some real life samples by clicking on our Case Studies page .

When you are in debt, all you can think of is that you need to either earn or borrow more money, but perhaps that is not possible. In fact, borrowing can make your money problem worse. If you obtain credit when you are insolvent or have no means to repay the loan, there could be severe legal consequences.

e:   info@a1debtassistance.com.au 

Bankruptcy can restore your life :-)

The pressure of outstanding bills takes a toll on your personal life, relationships and your family. Think about it, money problems are one of the most common triggers/contributers during periods of depression. Getting yourself out of debt is not simply a financial change, it will take the pressure off you and you will be able to find your old self again. Now you are free to take on new challenges and start again without any debt weighing you down. This may be one of the most positive effects about voluntary bankruptcy.  

Your credit rating will be affected for 7 years, but don't let that worry you.

To learn from your current situation, credit should not be important to you any longer. Imagine staying debt free and not working for the credit card payments any more - your wages are yours to use. Why would you need credit? You only add to the wealth of the banks not your own. A debt free life is a free life, one that most of us desire. Wealth can only be meassured by the good memories that we collect over the years, not the money we had. Happiness can not be purchased. 

You can have all the money in the world and still be miserable :-(

One of the key issues with bankruptcy is the human ego. The thought of becoming bankrupt does not sit well with most people. But if we look at financial trouble as a potentially fatal disease, than we should see bankruptcy as a potentially life saving operation.

Ask yourself, if a global icon such as General Motors can seek protection under the Bankruptcy Act, then why should you have to continue to suffer? Now that General Motors has emerged from bankruptcy in much better shape, you can see how it works and understand that you too could be heading towards a better tomorrow. Get your fresh start - call A1 Debt Assistance. 

Did you know that Walt Disney and Donald Trump had been bankrupt? The celebrity list of Bankruptcy includes many household names and not all have been through bankruptcy due to their own doing - the point I am trying to make, there is a life after bankruptcy. It is not the end, but a new beginning.

If you need financial help and you need it fast, bankruptcy is your legal right. You do not have to appear at a Bankruptcy Court, contrary to some peoples beliefs, such an institution does not exist in Australia.
 

What is the cost for A1 Debt Assistance to prepare, complete and lodge all documentation for my bankruptcy?

Voluntary Bankruptcy - Full Service from $399.  

Home Owners - Full Service from $699. 

Business Bankruptcy - Full Service from $699.

For a free quotation based on your specific situation, 1300 79 74 73 today. 

e:   info@a1debtassistance.com.au 

Don't go it alone, the consequences of getting your bankruptcy documentation wrong can be severe. A mistake in your paperwork may be innocent, as you may not know the law. Subject to the mistake or the missing piece of information, it could be bankruptcy fraud and as such may result in a severe penalty and extension of your bankruptcy term.

You may have received bankruptcy information from family and friends who mean well, but if it is incorrect information or you missunderstood something, it can be a costly error on your behalf. People mean well, but I have read some information and advice on internet forums, that is sure to get people into jail if they were to lodge bankruptcy papers based on such advice. 

Bankruptcy fraud is a very serious matter.

A1 Debt Assistance can take care of it for you. We prepare all the required documentation for you and we do it strictly by the book, so that you get the fresh start that you deserve and not a knock on the door that you feared. If there is a problem with your case we will help you and present it to the Government in a transparent way within your file - explaining the circumstances which may have lead to the problem.   


Voluntary Bankruptcy is legitimate relief from your debts when you are experiencing genuine financial trouble. There is absolutely no shame in going bankrupt. You need to put your health and your family first. Please visit our page - The Bankruptcy Stigma, click on it at the top menue bar.

If you are still trying to refinance, think carefully and be frank with yourself and your bank. We don't get involved in lending, we only focus on fixing your debt problem for the long term and getting your life back on track. We can do that most likely in less time than what it would take you to apply for another loan. So why not do this properly.

If you want to succeed with any form of debt relief you have to be honest with yourself. In most cases, people will come up with an unrealistic budget of what they think they can afford. A budget must cater for things such as clothing, hairdressing, birthday and Christmas presents, visits to the chemist or doctor etc - these are items that always seem to be missing in a budget, but these costs need to be taken into account. Have you planned to buy the odd magazine, newspaper or just a cold drink and a pie? What about the parking fee if you drive to the city? The list goes on and on.

The majority of people entering into Part 9 Debt Agreements are unable to complete these and we do many bankruptcies for people who continued to struggle through a Part 9 when they should have gone bankrupt in the first place and not entered into the Part 9 at all. The Part 9 has the same effect on your credit rating as bankruptcy, as the Part 9 is actually a part of the bankruptcy act.
e:   info@a1debtassistance.com.au 

Bankruptcy does not mean that you will lose everything you have.
You can generally keep the usual household goods such as appliances, TV's, stereos, home computers, furniture, tools of trade, cars to a certain value and many other items. Car repossession is often a matter of choice/ affordability if your car is under finance. Ring us and tell us your situation and we can tell you where you stand in regards to your car. If you own your car and it is not under finance, it should not be valued at more than $7050. If it is under finance, the actual value is irrelevant. Don't get creative and change your car registration or move any assetts out of your name - that is bankruptcy fraud. If you have already done this, let us know all detail of the transaction/ transfer of any assett, and we can include these in the right way and explain these to the Government, thus fixing the problem for you and showing that you are not trying to defraud the system. 

Whilst you may have restrictions on overseas travel during your bankruptcy, these restrictions do not mean that you can't actually travel overseas. You just need to inform your Trustee about the planned trip and the Trustee will then decide whether you are allowed to travel. In most cases, if the trip is family or work related, you will be allowed to travel.

You can own and operate a business:

Another common misconception is that you can't operate a business if you are bankrupt. This is incorrect. You can operate a business as a sole trader under your actual name but you have to inform your suppliers that you are an undischarged bankrupt if you are buying goods on credit above a certain amount. If you trade under a business name instead of your actual name, you will need to inform all suppliers and clients of your bankruptcy status. You are not allowed to be a Company Director during your bankruptcy. See our Business Bankruptcy page - our fee for business bankruptcy starts from $699. If you have debts to the ATO this debt can be included in your bankruptcy.

Bankruptcy does not affect your unemployment benefits, disability or any Centrelink regulated pension.

If any of your debts are in joint names or you have a loan guarantor, your creditor will collect your debt from the other person and it may be necessary for both of you to declare bankruptcy.

Our Full Bankruptcy Service, from only $399, can be arranged either face to face or, as in most cases, via telephone and mail or email correspondence. So, wherever you reside within Australia, A1 Debt Assistance is able to provide you with the fastest service and the help that you need. You are never too far away or too remote for A1 Debt Assistance, as long as you are somewhere in Australia. We will complete all documents required and make the lodgement with the Government. Our usual turn around time for the preparation of all documents is 5 to 7 working days, sometimes even quicker.

e:   info@a1debtassistance.com.au 

When should I stop my payments?
  
In some circumstances, voluntary bankruptcy may be your only real option for debt relief, in which case there is no point in dragging it on and having no money to put food on the table or petrol in your car. If you have decided to go bankrupt, you may as well stop paying any of your unsecured debts now and use any spare money to get up to date with some more urgent debts such as rent or utilities. But be sure that you get on with your bankruptcy at the same time and lodge it immediately, as otherwise your creditors can take action against you. Such action can include debt collectors having your wages garnished against your will, or a sherif coming around to your house and taking anything of value, including your car - this is because at that stage you are not protected from your creditors under the bankruptcy act. If you reside in shared accommodation or you are boarding with family, they can take anything that may not even belong to you, if the rightful owner can not produce a receipt for the purchase of such items. Call us if you need more information in this regard. 

There is a close relationship between financial stress and your health. Depression is a common factor when we feel helpless in the situation that we find ourselves in. Our ability to make firm decisions seems to leave us during such times. But to make the right decision is often the road to recovery. We have to address the problem that holds us hostage - money troubles.

Bankruptcy can go a long way to ease your anxiety and A1 Debt Assistance can take care of everything. For those who suffer from severe depression, there are other services that can also provide help. An excellent example is Lifeline. See link at the bottom of this page.

If you have a car loan or a mortgage, bankruptcy does not automatically mean that you will lose either, as long as you keep up the payments on these. With homes, the key is in how much, if any, equity you have in the property. Mortgagee sales are not generally the norm. Ring A1 to find out where you stand with your car or home.

You can include most debts in your personal bankruptcy, even debts that you may have to the Australian Taxation Office. Debts that you cannot include in bankruptcy are debts such as Child Support, HECS or fines of any kind.

If you have operated under an ABN within the last 5 years, please refer to our Business Bankruptcy page as well for more information. Your fee will start from $699.

Contact A1 Debt Assistance:

To obtain an exact quote based on your situation, 1300 79 74 73 today - free of charge. Or simply click on email.

e:   info@a1debtassistance.com.au 
 

Whilst your bankruptcy usually only lasts for 3 years, you need to understand that you will have a bad credit rating for a period of 7 years. In most cases there is already a default judgment against your name, so the credit rating is absolutely irrelevant by now. If you enter into a Debt Agreement - your credit rating is just as bad as if you go bankrupt, but you are repaying your debts and you can travel overseas without having to ask your trustee for permission. 

However, on the positive side, you will be able to look forward to the rest of your life, you will now only have your normal household bills to pay and the rest of your income can be utilised to re-start your life. If you earn above the current income threshold, you will have to pay income contributions for the duration of your bankruptcy. We can explain this to you over the phone. Income thresholds are reviewed regularly and your threshold is subject to the number of depentants that you may have. Childsupport payments are also considered by your Trustee and will increase your income threshold. The current gross income figure for a single person is $59,500 per annum, if you have one dependant this increases to a gross income threshold of $72,000 per annum etc. 

If you are married and both partners have to go bankrupt - the income threshold is still as above, per partner. It is commonly understood that the threshold applies to the household income, but that is wrong. So a married couple with one child, could actually have a gross income of $142,000 per annum before having to make any income contributions.

Also of great importance is the fact that you should not worry about exceeding your income threshold. You only have to pay 50cents in every dollar that you earn above the threshold. If you get a job with a great income, that may actually allow you to pay yourself out of your bankruptcy prior to the 3 years. Even if you don't pay yourself out early, you are still better of if you earn more and you are still repaying some of your debt at the same time.

Nothing stops you from applying for a loan or credit card after the 3 years, but it will be hard to secure a loan and make sure you don't get tempted by bad credit loans and any other type of high interest credit. This is your chance for a new start - so it is important to make the best of it. Learn to live with what you have and you will learn to live a happy life.

There are alternatives to purchasing goods on credit, perhaps you should explore the buy-to-rent options. Whatever you decide, do your research before entering into any rental or loan agreement, only consider these options as a last resort. If you can find a way to save the money and pay cash for future purchases - you will discover financial freedom. 

A1 Debt Assistance, Full Bankruptcy Service - from only $399. 

This fee includes the full preparation of all required legislative documentation by A1 Debt Assistance, collection of required information and supporting documents of evidence, as well as lodgment with the Government Bankruptcy Office. If you want to make sure that everything is done correctly and within the requirements under the Bankruptcy Act, this is definitely the option that we strongly recommend. It gives you peace of mind and you know your documentation is prepared correctly so that it will be accepted when lodged with the Government.

e:   info@a1debtassistance.com.au 

Start a new chapter of your life, click on - act now to email us and one of our friendly consultants will be in touch at a time that suits you.  


We'd love your Feedback:

As a small business we are always keen to learn what people think of A1 Debt Assistance after visiting this site. Please email us with your thoughts, positive or negative, it all helps to further improve our content and our ability to help people who are looking for help. 

Please email us your feedback to info@a1debtassistance.com.au and perhaps you wish to add this site to your favorites for future visits or recommend a friend in need.

1300 79 74 73 now

If someone you know is going through financial hardship - please tell them about A1 Debt Assistance. We service all of Australia.



On another note:     
 
Extra Income opportunity for car owners: A1 Car Ads

You may also consider registering for the chance of a little extra income if you have a reliable car.
Visit www.a1carads.com.au

A1 Car Ads is a business that promotes your car as an advertising space to Companies Australia wide. Go to the website and see for yourself if that is something that may interest you.

         1300 79 74 73  Or click on - Free Phone Consultation

Thank you for visiting -  A1 Debt Assistance

Troy & Karen