Who Pays For Bankruptcies? Free Bankruptcies.

Bankruptcy costs you nothing. Nicholls & Co, who are bankruptcy trustees have advised us that they only get paid from funds in the bankrupt estate. The bankrupt person does not get an invoice from Nicholls & Co.

To become bankrupt, you need to complete a 23-page form, which is called a Bankruptcy Form. If you can do this form yourself, bankruptcy will cost you nothing from start to finish.

Further, Nicholls & Co have advised us that if you are going to be a client of Nicholls & Co, they will assist you with your paperwork for no cost. If you are not going to be a client of Nicholls & Co and need assistance completing your Bankruptcy Form, we can assist you to complete your form and take care of lodging it with AFSA for you for $300.

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

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

2/ Getting on with daily life. Click here 

3/ Wages Super and Spending. 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