Best Bankruptcy Lawyers in Australia

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Hutchinson Legal

Hutchinson Legal

Dandenong, Australia

Founded in 2014
25 people in their team
We are a law firm with a focus on peopleHutchinson Legal is a local law firm with a long history in the Ringwood area. We have a strong line-up of...
English
Goldrick Farrell Mullan with Humphreys & Feather

Goldrick Farrell Mullan with Humphreys & Feather

Sydney, Australia

Founded in 1988
16 people in their team
Our reputation is based upon our results .... โ€‹๏ปฟ๏ปฟWelcome to Goldrick Farrell Mullan Lawyers            ...
English
Composite Law

Composite Law

Perth, Australia

Founded in 2014
10 people in their team
The FirmComposite Law is a commercial law firm based in Perth, Western Australia.A specialised litigation practice, our focus is on assisting...
English
Archer Thompson

Archer Thompson

Melbourne, Australia

Founded in 2006
25 people in their team
OverviewRichard has over 30 yearsโ€™ experience in employment law and commercial dispute resolution. He has worked as an industrial relations...
English
Hicksons

Hicksons

Newcastle, Australia

Founded in 1952
190 people in their team
About The FirmWe are an Australian law firm with offices in Sydney, Newcastle, Canberra, Melbourne and Brisbane.Hicksons is a commercial law firm who...
English
Hillhouse Burrough McKeown

Hillhouse Burrough McKeown

Brisbane, Australia

Founded in 1991
50 people in their team
About usWelcome to Hillhouse Legal Partners. We provide our clients with trusted, solutions-oriented legal strategy and advice, as we have for nearly...
English
J. King & Associates

J. King & Associates

Melbourne, Australia

Founded in 1999
25 people in their team
About Us Jamie King2019 to presentMember of the Law Institute Commercial Litigation Advisory Committee.2002Graduated as Master of Commercial Law...
English
Ar Law Services

Ar Law Services

Melbourne, Australia

Founded in 2000
43 people in their team
AR LAW SERVICES: Lawyers & Consultantswas established in 2000 by Anthony Robinson. Originally the office was situated at 222 Latrobe street...
English
Gillis Delaney Lawyers

Gillis Delaney Lawyers

Sydney, Australia

Founded in 2001
50 people in their team
ABOUTExceeding Your Expectations With Clarity, Transparency and Commitment. We Bring Excellence to All That We Develop, Deliver and Achieve.We have...
English
Havilah Legal

Havilah Legal

Maylands, Australia

Founded in 1998
10 people in their team
About Havilah LegalFamily, Succession, Business & Litigation LawyersOur lawyers operate across a range of areas. These include Family Law and...
English

About Bankruptcy Law in Australia

Bankruptcy in Australia is governed by the Bankruptcy Act 1966. It is a legal process that allows individuals and businesses unable to repay their debts to seek relief from some or all of their debts. When declared bankrupt, an individual's assets are transferred to a trustee who distributes them to creditors. Bankruptcy typically lasts for three years, during which time the individual must adhere to certain restrictions and obligations.

Why You May Need a Lawyer

Considering bankruptcy is a complex legal process with serious consequences, it is advisable to consult with a bankruptcy lawyer in the following situations: if you are facing insurmountable debt, if creditors are threatening legal action, if you are considering declaring bankruptcy, or if you are involved in a bankruptcy dispute.

Local Laws Overview

In Australia, bankruptcy proceedings are overseen by the Australian Financial Security Authority (AFSA). Key aspects of local laws include the process of filing for bankruptcy, the appointment of a trustee to manage assets, restrictions on travel and financial activities, and the discharge of debts after three years.

Frequently Asked Questions

1. What debts are not covered by bankruptcy?

Debts that are not covered by bankruptcy include court-imposed fines, child support payments, and debts incurred through fraudulent activities.

2. How long does bankruptcy last in Australia?

Bankruptcy in Australia typically lasts for three years.

3. Can I keep any assets if I declare bankruptcy?

Some essential assets, such as household items and a vehicle of limited value, may be exempt from the bankruptcy estate.

4. Will my credit rating be affected by bankruptcy?

Yes, declaring bankruptcy will negatively impact your credit rating for several years.

5. Can I still run a business while bankrupt?

There are restrictions on managing a business while bankrupt. It is essential to seek legal advice in such a situation.

6. Can creditors take legal action against me after bankruptcy?

Creditors cannot pursue you for debts that were included in your bankruptcy after you have been discharged.

7. What is the role of a trustee in bankruptcy?

A trustee is appointed to manage and distribute your assets to creditors fairly.

8. Can I travel overseas while bankrupt?

You must seek permission from your trustee before traveling overseas while bankrupt.

9. Is there a way to annul bankruptcy?

Under certain circumstances, bankruptcy can be annulled through a debt agreement or a composition proposal.

10. How can I find a bankruptcy lawyer in Australia?

You can search for qualified bankruptcy lawyers through legal directories, recommendations, or by contacting legal associations in Australia.

Additional Resources

For further information and assistance related to bankruptcy in Australia, you can visit the Australian Financial Security Authority (AFSA) website or seek guidance from the Law Society of Australia.

Next Steps

If you are considering bankruptcy or facing bankruptcy proceedings, it is crucial to seek legal advice from a bankruptcy lawyer to understand your rights and obligations. Contact a reputable law firm specializing in bankruptcy law to discuss your situation and receive professional assistance in navigating the bankruptcy process.

Disclaimer:
The information provided on this page is intended for informational purposes only and should not be construed as legal advice. While we strive to present accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or currentness of the content. Laws and regulations can change frequently, and interpretations of the law can vary. Therefore, you should consult with qualified legal professionals for specific advice tailored to your situation. We disclaim all liability for actions you take or fail to take based on any content on this page. If you find any information to be incorrect or outdated, please contact us, and we will make efforts to rectify it.