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A quick note on myths
“If I file for bankruptcy, I automatically lose the house.” - Not always. Outcomes depend on equity, contributions and what third parties can viably propose. Structured buy-outs are common.
“Moving things around late will solve it.” - Last-minute shuffles often backfire. Conduct and documentation must align and withstand scrutiny. It’s important to speak up early.
Why we do this
The numbers matter, but so do people. Bankrupts or debtors often go from exhausted and fearful to genuinely relieved once there’s a plan — sometimes via a buy-out, sometimes through an orderly winding-up, and sometimes with a complete life reset. The focus is always on clarity, dignity, and a fair outcome for everyone affected.
“People appreciate our honesty and straight talking… we’re only ever a phone call away.” That’s not a slogan; it’s how the team at RSM works.
If there are concerns about the family home, it’s important not to wait. A 30-minute conversation can change the trajectory. Based in Canberra and Melbourne, the team is available to speak with individuals or their advisers to map out available options.
Helpful resources
- Start a confidential, free conversation with our RSM Restructuring and Recovery team on 1300 263 816
- Further RSM information here
- What help exists if I’m in debt? (AFSA overview)
- Debt agreements (Part IX) explained (AFSA)
- Joint tenants vs tenants in common (ATO)
- Spousal transfers & duty rules (State Revenue Office Victoria)
- Find a regulated turnaround/bankruptcy professional (ARITA directory)
- Free, confidential financial counselling (MoneySmart & National Debt Helpline)
