Contributor

Lachlan Edwards,, Managing Lawyer, Cat Newton, Senior Policy Officer, Consumer Action Law Centre.

Overview

Bankruptcy is a legal financial status that can have positive and negative effects. It is strongly recommended that a debtor who is considering bankruptcy seek advice from an independent and qualified source. Bankruptcy can affect a person’s ability to get credit and employment opportunities.

This section includes the following topics:

• What is bankruptcy?
• Who can be made bankrupt?
• Who administers the bankruptcy law?
• What happens to the bankrupt’s property?
• What happens to the bankrupt’s income?
• The effect of bankruptcy on debts
• Leaving Australia
• Offences
• Process of going bankrupt
• When does bankruptcy end?
• Other procedures under the Act
• Contacts

 

A PDF of this chapter from The Law Handbook 2018 can be purchased for only $5.50. To purchase, visit the Fitzroy Legal Service online store.