3 Types of Bankruptcies

The Bankruptcy Act provides 3 possible solutions for your overwhelming debt. They are a Debt Agreement, Personal Insolvency Agreement and Bankruptcy.

We favour bankruptcy because it protects your income and clears your debt immediately. If you should happen to get sick or have an accident – you have the comfort of knowing that your overwhelming debt is gone permanently. With a Debt Agreement and Personal Insolvency Agreement your debt is not cleared until you have fully complied with the terms of the agreement.

For information on your 3 alternatives we recommend the following article on our website What Alternatives Do I Have? Click here.

For information on bankruptcy we recommend the following articles on our website:

1/ What is bankruptcy? How does it work? Click here

2/ Bankruptcy – What Is It? Click here

For information on Debt Agreements we recommend the following article on our website. Debt Agreements: The Facts. Click here

For information on Personal Insolvency Agreements we recommend the following article on our website. Personal Insolvency Agreements: The Facts Click here

We are here to help. If you have any questions please give us a call on 1300 794 492 or email hello@understandingbankruptcy.com.au