Annulling The Bankruptcy Can Be Easier Than You Think
Again, there are options available if you receive a creditors petition. Those are again, either (1) declare yourself voluntarily bankrupt; (2) dispute the debt, the subject of the notice; or (3) pay the debt/negotiate a payment arrangement with the debtor to pay the debt.
If you do not take any of these steps, then you may be declared bankrupt and a registered trustee (of the creditors choosing) will be appointed to your bankrupt estate to recoup funds for the creditors.
Being forced into bankruptcy should be avoided (where possible). Seeking advice as soon as you receive a judgement, bankruptcy notice or creditors petition is essential to ensure that you protect your interests. Speaking to professionals and obtaining the advice you need to be able to determine whether or not you should voluntarily declare bankruptcy or take steps to avoid bankruptcy is key.
Our team regularly advises clients in these situations and help plan and structure strategies to either avoid bankruptcy or enter bankruptcy voluntarily to minimise the negative impacts on the individual and their family.
Brisbane Debt Solutions offer simple solutions to complicated problems. We provide you with the support and assistance you need to get through these tough times. Contact us today for a free consultation.