Will My Income Be Affected
Unlike Debt Agreements, Personal Insolvency Agreements or Consolidation Loans, with bankruptcy you typically don’t need to repay the debt. This is unless you earn over a certain amount of income.
As an example if you earn under $1,135.00 per week after tax (net) for the 3 years you are bankrupt, you will never pay a cent towards the debt. This amount increases if you have dependent children or pay child support.
Further information on income amounts can be found on the going bankrupt page of this site or call us on 1300 339 604.
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