Personal Insolvency/Bankruptcy

is a very serious matter and should not be taken lightly as a way of avoiding debts.

If you need help urgently but can’t afford to use a solicitor then you may be able to access the services of a financial counsellor.  Click here for a list of free community financial counselling services.

Below is some very important information taken from the government website  This is followed by some easy to watch and understand videos about the various steps in the bankruptcy process.  For more informaiton on bankruptcy from the government website click here.

The consequences of bankruptcy are serious.

There will be a permanent record of your bankruptcy on the National Personal Insolvency Index (the NPII), which is an electronic register of all personal insolvency proceedings. The NPII can be accessed by any person and will include some personal information about you, including your name, date of birth and address.

A trustee is appointed to administer the bankruptcy. The duties of a trustee are specified in legislation and trustees have to adhere to certain standards while administering your estate.  In order to pay creditors, your trustee will:

  • sell your assets, including those you acquire or become entitled to during your bankruptcy (although you will be able to keep certain types of assets)
  • recover any income you earn over a certain limit
  • investigate your financial affairs and may in certain circumstances recover property that you have transferred to someone else prior to your bankruptcy.

Here are four different Youtube videos which will help you understand the stages involved with bankruptcy.

Consequences of Bankruptcy



Bankruptcy – Getting the Facts


Unmanageable Debt – Compare your options

Unmanageable Debt – Where to find help?

Bankruptcy – What debts survive?


Where to find  further help

Can’t afford a solicitor? Here are some free community financial counselling services which may be able to put you on the right track.


Wesley Mission Creditline – 
Financial Counselling Australia  –
Consumer Action – www./
Financial Rights Legal Centre  – www.