Bankruptcy By Phone

Bankruptcy By Phone We provide a service to people who are considering or have decided to declare bankruptcy and want advice and assistance with the process.

05/08/2026

Client example>>>

Client owed $42,354.00 between ATO ($25K) 3 disconnected utility accounts, 1 car accident insurance claim, 1 Law firm bill and 2 BNPL accounts.
Clients income $66,040 per annum.

Owns household items (furniture, electrical's etc) These are all protected.

Owns 2018 Hyundai i30 (client keeps it as it is protected under bankruptcy law.

Declaring bankruptcy allows the client to get through each week, look after their 2 kids without worrying how to pay every bill that arrives.

The bankruptcy doesn't mean that they are now living on easy street but they are able to sleep at night without worrying about how to pay those debts.

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03/02/2026

Tax Debt (ATO) and bankruptcy.

Personal tax debt including DPN's, late lodgement fines etc are all extinguished in bankruptcy.

Remember, bankruptcy is for individuals including sole trader's.

Be careful what you believe when talking around the BBQ. The advice is likely to be hearsay.

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26/01/2026

Bankruptcy in a Nutshell

 Your qualifying debt will be wiped/extinguished. That means you no longer need to make payments.

 Significant assets will be sold for the benefit of your creditors.

 Your household furniture, car up to a certain value, income up to a certain amount and tools of trade up to a certain amount are all protected. Contact us for free advice on these matters.

 Your credit score will be affected for a period and will then be restored.

 Contact us for free assessment to cover all aspects of your situation and how you will be affected.

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22/01/2026

Client example>>>

Client owed $32,754.00 between 1 Credit Card and 1 Buy Now Pay Later.

Clients income $30,800 Per annum. (Disability Pension)

Owns household items (furniture, electrical's etc) These are all protected.

Declaring bankruptcy allows the client to get through each week, Whilst still struggling, (living on a pension is never easy), but not having demand letters and stress about the credit card payment.

Side note: Client has over $300K in super. 1. Client is aged in their late fifties. 2. You cannot get an early release of super to pay debt. 3. Super balance, no matter how high, is protected (in bankruptcy) when it has come from employer contributions.

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20/01/2026

Client example>>>

Client owed $172,690.00 between 3 Credit Cards and ATO ($120.000.00).

Clients income $58,800 Per annum.

Clients living expenses (about) $50,000 Per annum.

Owns car ($2,500.00), Trailer and boat (both negligible value). gets to keep car, boat and trailer.

Owns household items (furniture, electricals etc) These are all protected.

Could never pay off cards and tax debt.

Declaring bankruptcy allows the client to get through each week without wondering how they will manage financially.

Client now reports living with no financial stress.

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09/12/2025

3 top reasons people choose voluntary bankruptcy.

1. Stop debt collectors and/or legal actions.

2. Stop the worrying and stress of having debt they can't pay.

3. Get a fresh financial start by saying goodbye to debt that can't afford.

There are many other reasons as well but remember, voluntary bankruptcy is there by law so that someone with too much debt can reset and restart their financial life.

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08/11/2025

What happens with income?

Many people think and are told that if they go bankrupt they will lose part of their income. This is not always true. There is a protected amount, which is always the bankrupts to keep. Currently this amount is $1,424.00 after tax per week for a person with no dependants.

The more dependants the higher the protected amount.

Here are the protected amounts. They are all after tax.

Dependants Weekly after tax income

0 $1,424

1 $1,680

2 $1,808

3 $1,880

4 $1,908

over 4 $1,937

We predict that this time next year a bankrupt with more than 4 dependants will be able to take home over $2,000.00 per week and not pay any contribution.

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30/07/2025

Client example>>>

Client owed $47,308.00 between 1 bank and 2 finance companies.

Clients income $59,000 Per annum.

Clients living expenses (about) $59,000 Per annum.

Car under finance. Can afford to keep paying car loan so client keeps their car.

Owns household items (furniture, electricals etc) These are all protected.

No other assets.

Unable to meet debt payments and living expenses.

Declaring bankruptcy allows the client to get through each week without wondering how they will manage financially.

The client isn't eating steak and champagne every night, however they aren't wondering how they will make rent each pay.

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28/07/2025

Client example>>>

Client owed $41,000.00 between 1 bank and 1 finance company.

Clients income $43,000 Per annum.

Clients living expenses (greater than) $43,000 Per annum.

No car.

Owns household items (furniture, electricals etc) These are all protected.

No other assets.

Not a single dollar available to pay any debt, let alone save a single dollar.

Client struggling to meet living expenses week to week.

The client didn't set out to become bankrupt but bankruptcy gave the client some peace.

The client still is struggling week to week but no longer worries about debt that they can't pay.

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20/07/2025

Client example>>>
Client owed $527,999.00 - $459,000 to ATO – ZIP $2,500 – Business Creditor $16,950 – Employee Super $49,549

Clients income $105,000 annual.

No possible way to pay that debt and meet living expenses.

The client had a car under finance. Client wanted to keep the car. As long as client keep up car payments client keeps the car.

Owns household items (furniture, electricals etc) These are all protected.

No other assets.

Income under the protected amount based on circumstances. Doesn’t lose any income.

ATO threatening client with legal action.

When you can't pay, you can't pay. Bankruptcy gave the client some peace.

Send a message to learn more

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