Voluntary Bankruptcy Could Be Your Best OptionNovember 4th, 2016
We talk to a lot of clients that may need to go bankrupt, as their personal debts are simply not sustainable. Unfortunately, this is normally from borrowing money personally to keep their business afloat. So if you have personal debt made up of credit cards, personal loans, that sort of thing, and that debt is over a hundred thousand dollars, it could be extremely difficult to pay that off, and it could take years. So, you may be considering voluntary bankruptcy, but what happens if you own your own home and have equity in that home? Will you lose your home if you go bankrupt?
If you’re made bankrupt by the courts, by a creditor, then the answer is probably yes. However, if you get on the front foot and look at voluntary bankruptcy, there are ways that you can keep your family home and other assets. Bankruptcy is an extremely serious matter, so you need expert advice to talk you through your specific situation. So please call us now on 1300 789 499.
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