What are the consequences of bankruptcy?

This fact sheet explains what to expect and your obligations during bankruptcy.

1 July 2015

This fact sheet is about the consequences of bankruptcy. It explains what happens when you go bankrupt, your obligations during the bankruptcy, and what happens at the end of your bankruptcy period.

Depending on your circumstances, bankruptcy looks a little different for everybody.

This fact sheet covers some common questions, like:

  • What happens to my assets during bankruptcy?
  • What happens to my income while I’m bankrupt?
  • What are my obligations while bankrupt?
  • When is a bankruptcy over?
Consequences of bankruptcy Download PDF (134 KB)

This resource was published 01/07/2015. This is legal information only and does not constitute legal advice. You should always contact a lawyer for advice specific to your situation.


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