24 reasons to choose bankruptcy.
Choosing bankruptcy can be a daunting and stressful process but
it exists to help and does so for thousands of Australians each
year.
Naturally, some people don't choose bankruptcy, it may be
forced upon them by a creditor seeking to collect their unpaid
debt. Regardless of whether a bankruptcy starts by a debtor's
petition or a creditor's petition, the outcome is always the
same: debts are extinguished...just not all debts.
This article looks at which common debts are extinguished in a
bankruptcy and which are not. Some of the answers might surprise
you. Obviously, this article is general in nature and shouldn't
be taken as authoritative advice. If you or your client need
specific advice on what debts are extinguished in bankruptcy
– please contact us directly.
