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PAST ARTICLES

Applying for Bankruptcy: A New Bankruptcy Form

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....

What happens to your assets in bankruptcy?

What happens to your assets in bankruptcy?

In bankruptcy certain assets are able to be sold by your trustee and certain assets are ‘protected’ and you can keep them. Sometimes determining whether an asset can be sold involves complex issues, however, th...

Equitable Exoneration; How it can save your house in bankruptcy

Equitable Exoneration; How it can save your house in bankruptcy

We are commonly asked to assist people involved in a business that has failed. Often one of the impacts of the business’ failure is that a bank loan to the business has not been paid. This loan is also often guaranteed by the person running the business but also by his or her partner, with the loa...

ATO Recovery Action; External Debt Collectors

ATO Recovery Action; External Debt Collectors

Article by Johanna Bond, Senior Accountant, Pearce & Heers’ Brisbane Office One of the various recovery tools the Australian Taxation Office (ATO) can use to recover tax debts is to refer tax debts to external debt collectors. ...

The Risk of Personal Guarantee Debt

The Risk of Personal Guarantee Debt

How does someone enter into a personal guarantee, and what are the consequences? ...

What happens to my house if I go bankrupt?

What happens to my house if I go bankrupt?

Article by Mark Davidson Ever wondered what would happen to your property in bankruptcy and if it was possible to keep it? It depends on number of factors, however the key thing to understand is that your interest in a property upon becoming bankrupt vests in your trustee, on behal...

Self-Managed Super Funds & Bankruptcy: Understand your options to protect your future

Self-Managed Super Funds & Bankruptcy: Understand your options to protect your future

Got a self-managed super fund and facing bankruptcy? Find out what your risks and options are so that you make the right decision for your future…...

Unmanageable debt? Understand your options other than bankruptcy…

Unmanageable debt? Understand your options other than bankruptcy…

Do you have unmanageable personal debt? There may be options other than bankruptcy. Before you decide what to do, understand the options explained here…...

How to replace a Bankruptcy Trustee: New laws for creditors explained

How to replace a Bankruptcy Trustee: New laws for creditors explained

Are you a creditor looking for advice on replacing a bankruptcy trustee? New laws to empower creditors could make the replacement of that trustee easier....

Accountants: 9 reasons for choosing a liquidator now to better help your clients

Accountants: 9 reasons for choosing a liquidator now to better help your clients

Accountants benefit from choosing a liquidator to collaborate with on client problems – not just for liquidation! Here are 9 reasons why you should find one…...

Can you be a sole trader while bankrupt?

Can you be a sole trader while bankrupt?

Sole traders: Are you in financial difficulty and considering bankruptcy? There are ways you can remain a sole trader while bankrupt. They're explained here....

Deep in bank debt? Why bankruptcy isn’t always the answer

Deep in bank debt? Why bankruptcy isn’t always the answer

If you owe a large debt to the bank and are considering bankruptcy, you may be able to avoid bankruptcy thanks to alternative settlements ...

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