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Applying for Bankruptcy: A New Bankruptcy Form

To become bankrupt, you will need to complete a Bankruptcy Form. This is a new form which was issued by the Australian Financial Security Authority (AFSA) in January 2020. Prior to January 2020, to become bankrupt you needed to complete a Statement of Affairs and Debtor’s Petition.

How do you complete the Bankruptcy Form?

You can complete the Bankruptcy Form online by accessing AFSA’s website.

Alternatively, you can ask AFSA to provide you with a paper copy of the Bankruptcy Form and you can return it to them by post, or you can ask a private bankruptcy Trustee to provide the form and lodge it on your behalf.

How do you appoint your own bankruptcy Trustee?

If you wish to appoint your own bankruptcy Trustee, such as those at Pearce & Heers, you need to contact them before you complete the Bankruptcy Form. If you contact us, we will be able to discuss your circumstances with you and provide guidance on any issues which may arise in your bankruptcy. We will also help you complete the Bankruptcy Form and if necessary, submit it to AFSA on your behalf.

What else should you do before bankruptcy?

 The consequences of bankruptcy are serious and generally can’t be cancelled if you change your mind. You should get advice before you go bankrupt including on what assets can be sold in bankruptcy and other effects of bankruptcy.

Contact us for advice and assistance

If you are considering bankruptcy we are here to help. We can help you with general advice on the bankruptcy procedure and its effects. We can also help you complete a Bankruptcy Form and answer any questions you may have. If you are going to appoint us as your bankruptcy Trustees we won’t charge you for this advice and assistance.

So please contact us at our Brisbane or Gold Coast offices for an initial obligation-free consultation.

GET IN TOUCH

We’re happy to answer any questions you may have, so please don’t hesitate to call us and schedule a consultation.

BRISBANE OFFICE

Address

Level 12
127 Creek Street
Brisbane Qld 4000

Phone

Phone: 07 3221 0055
Fax: 07 3221 8885

Postal Address

GPO Box 691
Brisbane Qld 4001

Email

mail@pearceheers.com
GOLD COAST OFFICE

Address

Level 15, Corporate Centre One
2 Corporate Court
Bundall Qld 4217

Phone

Phone: 07 5630 1179
Fax: 07 3221 8885

Postal Address

PO Box 4973
Gold Coast MC Qld 9726

Email

gcmail@pearceheers.com
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