How long is bankruptcy in Australia

Bankruptcy lasts for 3 years. The starting point is when you receive your bankruptcy number. To receive your bankruptcy number, you complete a document called ‘Bankruptcy Form’ which is a 23-page document. It is then lodged with the Australian Financial Security Authority (AFSA) and when they accept your Bankruptcy Form, they give you your bankruptcy number.

Without regard to the time of day you receive your bankruptcy number, your bankruptcy is deemed to have commenced at the commencement of that day.

On the conclusion of 3 years you do not apply to be discharged from bankruptcy, you are discharged automatically.

To explore bankruptcy, we recommend the following articles on our website:

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

2/ Bankruptcy – Create a Holistic Solution Click here

We are here to help. If you have any questions please give us a call on 1300 764 197 or email hello@understandingbankruptcy.com.au