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Personal Bankruptcy Trustees Gold Coast

Providing You with a Fresh Financial Start Through Bankruptcy

What is Voluntary Administration?

There could be many reasons why you’re currently struggling with your finances. This could be from overwhelming credit card debt, tax debt, personal loans or medical expenses. It could also be from a relationship breakdown or loss of income. Although filing for bankruptcy on the Gold Coast should be seen as a last resort, if you’re struggling with severe debt and need a way out, Bankruptcy may be the solution.

Declaring personal bankruptcy on the Gold Coast eliminates your debt, relieves you of the stress associated with financial troubles and allows you to get on with your life debt free. Unlike other debt relief solutions, bankruptcy does come with restrictions. Fortunately, the benefits of eliminating your debt will outweigh the potential restrictions temporarily imposed on your lifestyle.

At Revive Financial, we have been helping individuals across Australia file for bankruptcy for over 10 years. Our Gold Coast team consists of business debt and personal insolvency specialists including Chartered Accountants, Registered Liquidators, Bankruptcy Trustees and business advisors with a combined experience of over 43 years.

If you need relief from your never-ending debts, our local Gold Coast team can help. We have the skills and experience required to see you through your entire bankruptcy – from completing and submitting the bankruptcy forms, to overseeing your personal bankruptcy through to completion.

Home Owner Bankruptcy Tips

How to Declare Bankruptcy on the Gold Coast

Talk to a Revive Financial Bankruptcy Specialist

Declaring bankruptcy is only one option out of many which can help wipe your debts. Other options have less impact on your credit file and may be a better choice. These include debt consolidation, an Informal Agreement or a Debt Agreement. Get in touch with our Gold Coast team and a bankruptcy specialist will assess your individual financial situation and find out which option will work best for you.

Lodge the Bankruptcy Application Forms

If bankruptcy is the best option forward, we will help you fill out and lodge all of the necessary forms: Form 3 – Statement of Affairs and Form 6 – Debtor Petition. One of our expert Bankruptcy Trustees will be appointed to your case and will help you through the process, from start to finish. Have a question? Your appointed Revive Financial Trustee will know the answer, so don’t hesitate to ask.

Receive Confirmation of Your Bankruptcy

You should receive confirmation of your bankruptcy within 48 hours after your Trustee lodges the forms. This confirmation will be a written letter from AFSA with your Administration Number (bankruptcy number).

Once you’re bankrupt, your creditors will stop harassing you. But if you do end up receiving a call, that’s where you can tell them your AFSA administration number and hang up. Let your Revive Financial Bankruptcy Trustee know of the call so they can make sure you don’t receive anymore.

Potential Impact of Bankruptcy on Your Life

Bankruptcy, being a last resort for debt relief, brings with it registrations and regulations which may impact your lifestyle. We know the bankruptcy process can be confusing, which is why your appointed Revive Financial Bankruptcy Trustee is by your side to help you understand the potential consequences of bankruptcy.


The good news is you can earn an unlimited amount while bankrupt. The bad news is if you earn over the threshold amount, every 50c from each dollar will be taken and used to pay for your bankruptcy, or divided among your creditors.

  • If you have no dependants, you can earn a maximum of $56,500 after tax
  • If you have one dependant, you can earn a maximum of $66,000 after tax
  • If you have four or more dependants, you can earn a maximum of $77,000 after tax
Travelling During Bankruptcy


Being bankrupt means you have to ask your Gold Coast trustee for permission to travel. As experts who have years of experience in personal insolvency, we see most bankrupts have no problem travelling overseas. As long as you can supply the required information (why you’re travelling, how you intend to pay) there’s no reason why your request would be denied. However, you do need to pay a once-off $150 fee every time you want to travel overseas.

Credit File

Unlike an Informal Agreement or Debt Agreement, Bankruptcy stays on your credit file for 5 years and is listed on the National Personal Insolvency Index (NPII) for life. This may impact your ability to apply for finance in the future. .


If you own a home and declare bankruptcy, it’s possible your appointed Bankruptcy Trustee may sell it to pay your creditors. However, there are ways to avoid this. One of these ways is to sell your share of the house to your spouse.

Get Your Life Back on Track with Bankruptcy on the Gold Coast

At Revive Financial, we understand bankruptcy is serious, but it shouldn’t be viewed as a bad thing. Depending on your situation, bankruptcy may even be a better choice than a Debt Agreement as you can stop struggling to pay your debts altogether. Get in touch with our Gold Coast team today for a free, 30-minute consultation. Bankruptcy may the saving grace you need if you’re faced with debts you cannot repay anymore.

If you believe Bankruptcy may be the best solution for you, or if you’re unsure which option is best, give our Gold Coast team a call today on 1800 861 247 and we’ll help you get your finances back on track.

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