Bankruptcy Information

By: Personal Bankruptcy in Australia  28-Jan-2016
Keywords: Bankruptcy, Personal Bankruptcy, Personal Insolvency

There are options other than Bankruptcy! Many people either choose or are forced to opt for the simplest one first which is to simply ignore their creditors, which we all know is not really an option as eventually you will be nailed to the wall. The other options are what are known as Debt Agreements or “DA’s” and Personal Insolvency Agreements or “PIA’s”. There are plenty of Pros and Cons for each and truthfully, they are not wonderful options. Many organizations will steer you towards one of these options as they make a lot of money out of them. Personally I would opt for the Bankruptcy option. The chart below outlines the pros and cons of each.

Keywords: Bankruptcy, Bankruptcy Information, Personal Bankruptcy, Personal Insolvency

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What happens to my debts after bankruptcy?

Your debts are all discharged, meaning they are written off by your creditor (the person or organization you owe them