RSM have a team that specialises in individual insolvency solutions including bankruptcy services and personal insolvency agreements in Brisbane, Canberra, Melbourne, Perth, Sydney and Wagga Wagga.
If you no longer have control of your finances there are actions you can take.
Our experts can help you file for personal bankruptcy, relieve you from the pressure of repayments, and put you back on the path to financial stability.
The objectives of the Bankruptcy Act 1966 (“the Act”) include:
- The release of debtors from their provable debts
- The pooling of divisible property to meet the costs of the administration and repayment of debts in full or in part
- To provide alternatives to bankruptcy
- The administration of the Income Contribution regime which affects bankrupts whose after tax income is greater than the threshold amounts
- Limiting commercial activities by bankrupts and debtors during the period of bankruptcy or before the terms of a PIA are fulfilled
- The prosecution of offences arising before, during and after bankruptcy and in relation to Debt Agreements and PIA’s