We’re here to help

We’re experts in both business and personal bankruptcy. Bankruptcy is a legal process that will clear most (if not all) of your debts. 

It can give you a fresh start. We can deal with all the bankruptcy paperwork quickly and easily over the phone. But it’s important to understand bankruptcy’s consequences first and work out if bankruptcy is right for you. Contact us to find out what you need to know about your circumstances.

The chance for a fresh financial start

Deal with your debts and stop the worry

Immediately stop legal action & nasty phone calls

What is bankruptcy?

Bankruptcy is a legal process that gives you a financial fresh start.

In bankruptcy, a “bankruptcy trustee” is appointed to deal with your creditors and manage your bankrupt estate. If you have any substantial assets/equity a bankruptcy trustee will look to sell these assets for your creditors’ benefit.

What must I sell?

Several assets cannot be sold by a bankruptcy trustee. These include your household effects and a vehicle (car or motorbike) you use for transport (depending on its value). 


What do I need to pay back?

The standard bankruptcy period is three years and during that time, if you earn a high income, you might need to pay some amounts to your trustee.


Watch our full video for more details.

Book a free, no-obligation chat now

In our experience, no amount of FAQs and reading will substitute what can be gained by discussing your unique situation with a qualified professional.

We’ll guide you from start to finish

We are focused locally and resourced nationally with 32 offices across Australia so you’ll deal with a local expert who guides you through the process from start to finish.

Eliminate the hurdles of uncertainty with qualified, expert advice from the team that cares.

You’re not alone

Thousands of Australians choose to go bankrupt each year by voluntarily filing a debtors’ petition. When you get the facts, you may be surprised to learn that bankruptcy is really not as bad as you think. Bankruptcy is not intended to be a penalty; it is intended to give you a fresh start. Give us a call on 1300 959 557 to discuss your questions.


Bankruptcy myths

Many myths about bankruptcy are either completely untrue, or only apply in rare situations. These include myths such as:

  • I won’t be able to travel overseas
  • My employer will be told of my bankruptcy
  • My family and friends will find out
  • I will never be able to borrow again
  • I can’t be in business or self-employed
  • I will lose my car
  • All my future income will go to paying off my debts

Some of these myths are addressed in our FAQs section. But the best way to sort out the fact and fiction is chatting through your specific situation with us. We see and hear people’s relief every day.  When they understand how bankruptcy works, and realise that bankruptcy is really not as bad as they thought. And better yet, how bankruptcy will let them hit that “reset” switch and start over fresh.

How to apply/claim for bankruptcy?

Certain eligibility criteria include being insolvent (unable to pay your debts) and either be present in Australia or have a requisite connection with Australia. The next step is completing and submitting the relevant government forms accurately. We can assist you in answering your questions and complete all the required forms for you to check, sign, and then submit.

Call us today

Want more info? See our FAQs.


Bankruptcy isn’t your only choice. 

There are other pathways to explore depending on your situation.


Book a free, no-obligation chat now

In our experience, no amount of FAQs and reading will substitute what can be gained by discussing your unique situation with a qualified professional.

What comes next? 3 easy steps to debt relief


“No-one wants to be bankrupt.

But when it does happen, for whatever reason, you want to be in the best hands to help you through. I found my engagement with Worrells to be a key element to my survival of this process.

Worrells went about their job in a very professional manner but at the same time treated me with respect and dignity. They were very approachable and open in communications which helped a lot. I would recommend Worrells to anyone in the position of considering bankruptcy as a path forward.

– Anonymous


Our promise

Now’s the time to have someone in your corner—an insolvency professional who provides clarity amongst the murkiness of insolvency, stress and indecision.

We are dedicated to helping you at every step of the way to financial freedom, and we are always happy to answer your call


Don’t live with the financial burden any longer


Our specialised consultants can find solutions to all types of debt problems. We can help you consolidate your payments, save thousands in interest and reduce your debt. Your debt problem can be fixed!


Call us today on 1300 959 557 or complete the form


Your questions on Bankruptcy answered

Can I keep my car?

You can keep cars or motorbikes you use mainly for transport worth up to an amount that’s the government (AFSA) indexes. Currently, that amount is $8,150.00

If you haven’t paid off the vehicle, the amount that counts towards the limit is its value minus what you still owe.

We will talk this all through with you. Your asset position among other factors are all considered and there’s no hard and fast decisions you need to be wary of.

What happens to the tools of trade I have for my work/business?

You can keep “tools of trade” property you use to earn an income to an amount that the government (AFSA) indexes. Currently the amount for tools of trade you can keep is $3,800.

Again, we will talk this all through with you in view of your circumstances.

Do I need to pay my creditors from ongoing income?

There are a range of “threshold amounts” and dependants criteria that the government (AFSA) sets twice a year (March & September). Those amounts are the amounts your receive after tax is paid/payable. And factors in any variations on income like income tax payments and child support payments (section 139N of the Bankruptcy Act).

During bankruptcy, your income is assessed annually based on the above factors, and you may have to pay a portion of your income into the bankruptcy estate (called an income contribution) for the benefit of your creditors. We will work this all through together from the outset so you can understand what could happen with any possible income contributions during the standard three-year bankruptcy period.