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Bankruptcy Shortcomings

Advantages of Going Bankrupt

  • need not repay bank or loan creditors if income is below living expenses
  • living expenses may include maintenance to dependants such as parents and children
  • face no debt litigations
  • debt collectors cease to chase your debts
  • automatic discharge from bankruptcy after 4 years if well behave
  • bank debts and loans written off after 4 years when bankruptcy order is discharged
Debt problems? Make a call to our experienced insolvency lawyer - Ricky Wan whatsapp/ phone 68896880 WhatsApp accepted