Bankruptcy Myths

A lot of Voluntary Bankruptcy Information is completely false. Look at some of the commonly held bankruptcy beliefs below and then read the reality.

I can’t file for Bankruptcy because I have a job. FALSE. Most people who file for bankruptcy are employed.

I will have to make payments to the government if I go Bankrupt. MOST PEOPLE DON’T.   A person with no dependants can earn $1,066.28 a week after tax and it is all protected. You will keep the lot. The protected amount is higher if you have dependants.

I won’t be able to go overseas. FALSE. We have helped thousand’s of people and never had anyone refused permission to travel overseas.

My employer will be told. FALSE. Your employer will not be informed about your bankruptcy except in certain (and rare) circumstances.

Only losers go Bankrupt. FALSE. Bankruptcy laws were made because the government knows that good people can hit bad times. You are not a loser!

They will say I can afford my debts. FALSE. We have helped thousand’s of people and only twice has this been said. In both of these cases the person’s were allowed to go bankrupt.

I cant ever buy a house for the rest of my life. FALSE. Just because you go bankrupt it doesn’t mean you are barred for life from buying a house.

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