If you are being chased by debt collectors, or facing a personal debt crisis such that you cannot see a way through, getting legal advice might be the last thing on your mind. But when your financial situation is really dreadful and it looks as though bankruptcy might be on the cards, it is crucial that you get professional advice.
Getting advice and assistance from a lawyer who is experienced in bankruptcy and insolvency will help to protect you against claims. Our lawyers can help you preparing your bankruptcy application and assist with any queries or disputes that arise thereafter. In some circumstances, bankruptcy may be unavoidable but there may be other options for you to consider. We consider other pathways for example, there might be a basis for you to dispute one or more of your debts. It is sometimes possible to negotiate with creditors to reduce or remove your debt without having to declare bankruptcy.
Bankruptcy is a legal process that provides protections to people who are not able to pay their debts as and when they fall due. There are two ways to be made bankrupt:
Although bankruptcy can give you somewhat of a financial fresh start, you should not enter into bankruptcy without a proper understanding of what it means, because the consequences may impact you for years to come.
Some of the possible consequences of bankruptcy include that:
Bankruptcy is a legal process and comes with some risks if you do not adhere to the laws and processes. Getting professional bankruptcy legal advice can help you achieve the best outcome for you and ensure you are protected.
Our highly experienced lawyers at PCL Lawyers can give you advice on what your options are in your personal circumstances.
Contact one of our bankruptcy lawyers in Melbourne or Sydney today for a confidential discussion about your circumstances. Please fill out the enquiry box on this page or contact us on 1300 907 335.