If you’re unable to pay off your mounting debts, you may feel that declaring personal bankruptcy is the only way to relieve the pressure of your financial situation. It’s important to know that declaring bankruptcy is a significant decision that will affect you for years to come. At Debt Busters, our financial experts understand the benefits, implications and drawbacks, and can help you decide if declaring bankruptcy is the right solution for you.

How It Works

Bankruptcy is a legal process that releases you from most, if not all of your debt. It’s a way to achieve a fresh start while
you regain your financial footing. Individuals can declare bankruptcy when they’re unable to pay their debts on time or in full. When you have been declared bankrupt, you agree to give up the control of your finances and assets to a Trustee. In exchange, your debts will be cleared and you’ll be protected from legal action being taken against you by creditors. You also won’t be contacted by those creditors anymore.


In order to apply for bankruptcy assistance, you will need to:

Be 18 or over
Be an Australian resident
Provide documentation
(ID, passport, driver’s license)
Share some information
about your financial situation

How Debt Busters Can Help

If you’re struggling to pay your bills on time and you’re worried about the calls from creditors, now is the time to take action. It can be intimidating to take the first step, but you’ll be glad you did it. Bankruptcy is a huge undertaking: it can be a life-changing, effective way to free yourself from a seemingly endless cycle of debt. At the same time, it might not be the right choice for you, and it’s important to talk to a finance professional in order to understand the implications of declaring bankruptcy.

Contact us today or call a member of our team on 1300 368 332 for a confidential discussion regarding your financial situation and how we can help.