Bankruptcy Advices we provide

Bankruptcy Advice

Public Trustee Vs Private Trustee

What is a Bankruptcy Trustee?

Bankruptcy Filing

Bankruptcy Advice

It is our holistic advice to Individuals that sets LemonAide apart from the competition. Given the hands-on experience as an accountant within the insolvency industry for more than 16 years, I will be able to tell you if Bankruptcy is right for you or if there is a better alternative to suit your circumstances. I believe that Bankruptcy should be the absolute last option for a person and if possible it should be avoided at all costs. However I am not afraid to provide straight, no bs, advice as well.

Look, I get it, this is a scary place to be in. But do yourself a favour… do not listen to your friends or family (unless they are an experienced insolvency practitioner). Click the Book an Appointment button now and book an initial client meeting with me today, so that together we can explore the alternatives to your unique situation .

REMEMBER…the quicker you start a Bankruptcy, the quicker you will be out of Bankruptcy. I had a client that was made Bankrupt by the Court and did not file the Bankruptcy Form for 2 ½ years after the Court made them Bankrupt. By the time they did file the Bankruptcy Form, they would have almost been finished with their Bankruptcy had they filed the completed Bankruptcy Form on time. Do Not Be Like this Person….be proactive to improve your long-term financial future today. I know it can be scary, but we are here to help you and support you.

Still not sure, check out my experience at the About Page and then go and book your appointment today. I guarantee, you will feel better about talking to someone about your circumstance and at least I have an abundance of practical experience for you to utilise.

Difference between LemonAide and a Bankruptcy Trustee

LemonAide is different. You Are My Client!!!

I will look after your interests and represent you as you prepare for bankruptcy. I can help you select an appropriate Bankruptcy Trustee for your circumstances, if you haven’t appointed one yet. l will also negotiate with the Bankruptcy Trustee on your behalf and look for ways to protect your interests throughout the process.

If you are preparing for bankruptcy or have recently appointed a Bankruptcy Trustee, get in touch with LemonAide while you still have some options by booking an appointment. There is no obligation for you to hire LemonAide to implement the proposed strategy, but after our 1st meeting together, you will feel so at ease that you will want to LemonAide in your corner.

If you have already been made bankrupt by the Court and a sequestration order has been ordered against you, LemonAide can still help you navigate the bankruptcy process.

Bankruptcy

Bankruptcy is a way for you to re- start your financial future without all the debts. Yes some debts will remain after bankruptcy which are HECS, Child Support, Pecuniary Penalties (speeding fines, court fines etc) and debts incurred by fraud.  All other debts will be a part of your Bankrupt Estate.

I know it may seem daunting due to public stigma surrounding bankruptcy, but bankruptcy is no longer advertised in the newspaper. Your friends and family are unlikely to find out about your Bankruptcy unless they are a creditor of your estate or you tell them that you are Bankrupt. 

You still don’t want to click to Book an Appointment do you? Well I guess you have more questions, you do know that you could have all your questions answered at an appointment right? Click on the Book an Appointment button to make that session happen.

Public Trustee Vs Private Trustee

An independent party is appointed as the Bankruptcy Trustee to administer the Bankruptcy upon you.  There are 2 parties that can do this, the government division known as Australian Financial Security Authority (“AFSA”) or a private Trustee which is literally everyone else that holds a Trustee’s ticket and does not work for AFSA. It is free to lodge your Bankruptcy Form with AFSA and appoint them as your Trustee. However, you should note that AFSA may transfer your matter to a Private Trustee if they so choose. If this happens the Bankruptcy still does not have an upfront fee.

If you choose to use a private Trustee, they may charge you an upfront fee to administer the Bankruptcy upon you.

As they are both governed by the Bankruptcy Act, 1966 the rules applied to you are exactly the same. Each type of Bankruptcy Trustee has their advantages and disadvantages, book an appointment with me to find out what they are.

Bankruptcy Filing

To become Bankrupt, you will need to complete a Bankruptcy Form. The Bankruptcy Form is designed to give a lot of preliminary information about you to your Bankruptcy Trustee. The Bankruptcy Form will cover everything from your location, your family structure to assets, liabilities and income.

I can help you complete the Bankruptcy Form and explain every question, what the question means and how the information will be used by the Bankruptcy Trustee.

To file your Bankruptcy Documents, you will need to create an account on Insolvency Services at https://www.afsa.gov.au/insolvency/cant-pay-my-debts/apply-bankruptcy

If you need assistance completing your Bankruptcy Form, please contact us by using the Book an Appointment button. If you would prefer a paper version of the Bankruptcy Form, please send me an email and I will email you the form in reply.

Bankruptcy Australia

In Australia, Bankruptcy Trustees are required to apply the rules of Bankruptcy that are stipulated by the Bankruptcy Act, 1966.

If the above has not answered all your questions, please go to our FAQ’s page. Alternatively Book an Appointment to have all your questions answered by us in person.

Book an Appointment

You still don’t want to click that Book an Appointment button do you? Well I guess you have more questions, you do know that you could have all your questions answered at an appointment right? Click on the Book an Appointment button to make that session happen.