A lack of knowledge and limited understanding about bankruptcy are key reasons why it is commonly overlooked as a viable option. Not only do our team of professionals provide a personal service, they have also compiled a series of detailed articles on bankruptcy. They have used descriptive examples that outline when bankruptcy is a suitable option and how it can be utilised to alleviate financial hardship.
There were 10,621 new personal insolvencies in 2020–21, which was down for the previous year. While there's no doubt Government pandemic financial assistance such as JobKeeper and other COVID packages have helped reduce the economic burden on people, many others will still face the difficult decision to look at personal insolvency options.
Many people think that bankruptcy and liquidation mean the same thing – you can’t pay your debts. This is not the case and bankruptcy is completely different to liquidation. Learn about the key differences and the best ways to prevent your business from becoming insolvent.