How a former café owner eliminated tax debt and kept their family home
Key results at a glance
Scott’s story
Scott
After the heart-breaking liquidation of his café, Scott was pursued personally by the ATO for an unmanageable $187,610 tax debt. Unemployed and terrified of losing the house he shared with his wife, the pressure was immense. We assisted Scott with declaring bankruptcy to eliminate the crushing debt, while strategically helping his non-bankrupt spouse refinance their property to purchase his interest. This expert intervention successfully retained their family home and provided a fresh start.
Age
61 years
Employment status
Unemployed
Location
Brisbane, Queensland
Household type
Married
Employment
Former business owner
The challenge
Despite years of hard work building his business, the liquidation of Scott’s café left him with zero income and a massive tax burden that threatened his family’s future.
Business liquidation
The closure of his café completely eliminated Scott’s primary source of income, making debt repayment impossible.
Aggressive tax debt
The ATO pursued Scott personally for $187,610, an overwhelming sum for an unemployed 61-year-old approaching retirement.
Risk to family home
The sheer size of the debt put the family home he shared with his wife at severe risk of forced sale.
Zero income
With no wages coming in, traditional debt consolidation or manageable repayment plans were entirely off the table.
The solution
Comprehensive financial assessment
Practical guidance
Tailored solutions
Complete transparency
Why this approach worked
Getting started is easy and straightforward
Complete debt elimination
By filing for bankruptcy, the unmanageable $187,610 ATO debt was entirely addressed. This move saved Scott approximately $50,000, provided a 42.49% dividend return to creditors, and instantly removed the financial burden.
Asset protection
Instead of losing everything to the ATO, our strategy allowed Scott’s wife to refinance and legally purchase his interest in the property. This shielded their most valuable asset and kept a roof over their heads.
The result
Scott successfully navigated bankruptcy, experiencing immediate relief from aggressive ATO pursuit. The outcome eliminated a six-figure tax debt, saved the couple roughly $50,000, and most importantly, secured their family home for their retirement years.
Additional benefits
A structured, legally binding approach to resolving unmanageable business and personal tax debts
Immediate protection from further legal action, debt collectors, and aggressive ATO pursuit
Mental clarity and the removal of immense financial stress for the entire household
A secure, stable foundation to rebuild your retirement and future wealth with a clean slate
Protecting assets through bankruptcy
After his business failed and went into liquidation, Leigh was left with $60,000 in personal debt and at risk of losing his home and vehicle. Standard options weren’t enough to protect his assets. We arranged a bankruptcy solution with a deed of forbearance, wiping over $45,000 in debt while keeping his home and vehicle safe.
Clearing debt before retirement
After years of hard work, Peter found himself overwhelmed by nearly $130,000 in personal loans he could no longer manage on his own terms. With no property assets and retirement on the horizon, bankruptcy was the right path forward. We guided him through the process, wiping over $66,000 in debt and leaving him with a single affordable fortnightly payment – giving Peter a clear runway to save for retirement.
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How Leigh wiped $45,000 in debt and kept his home
How Peter wiped $66,000 in debt and secured a fresh start for retirement
How Sarah reduced her debt by $25,000 and avoided Bankruptcy
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