Bankruptcy is a legal process where you’re declared unable to pay your debts. It can release you from most debts, providing relief from the stress and allowing you to make a fresh start. However, it isn’t a decision that should be taken lightly, as bankruptcy can have a significant impact on your life.
It’s Fix Bad Credit’s job to present the options to help you find the best way to hit the reset button, clean the slate, and get on with life without debt holding you back
At Fix Bad Credit, we start by getting an in-depth understanding of your debt situation in order to develop a tailored solution that meets your current and future financial and personal goals. We then present to you your options for debt relief so you can make an informed decision about what’s best for you. Once you decide on the option that is best for you, we are more than happy to continue to help, making the process as painless and stress free as possible. Our highly skilled, experienced debt solution experts will care of all the uncomfortable requirements throughout the entire process, as you get on with living with your life. Ensuring that when it’s time to come out the other side of bankruptcy, you are in the best shape possible to rebuild your financially secure future.
How entering bankruptcy may assist you
Below are some ways Bankruptcy can relieve the burden of debt:
• The pressure is taken off you because you don’t have to deal with your creditors
• Legal action against you to recover many types of debt will stop.
• The Sheriff will not be able to take your essential household goods
• You will be able to keep some protected property such as essential household goods and a motor vehicle (speak to our debt expert for more information and the conditions that apply)
• You can still earn an income
• Most of your debts are cancelled.
Financial Improvements
Assisting Australians make
Of improvements to their lives in 2022 to date.
How entering bankruptcy may impact you:
Property/Assets – Some assets may be used to cover your debts.
Your bank account – If you have over a certain amount of cash on hand in your bank account, it may be used to cover your debts.
Money or property received while you are bankrupt– If you inherit or win money or property while you are bankruptcy, it will be impacted.
Paying contributions – If you earn over a certain amount, you may have to pay contributions towards your debts.
Work – Some industries will not allow those that work in the profession if they are bankrupt.
Company Director – You can only be a director of a company or otherwise actively involved in the management of a company, if approved by the court.
Credit, rental property and other services – Your credit report will be impacted for up to 5 years or 2 years from your discharge, whichever is longer, and will be publicly listed on the National Personal Insolvency Index indefinitely. It may also have an effect on your ability to rent property, access telecommunications and other services.
Restrictions on borrowing and trading – you can only borrow up to a certain amount, accept goods on credit or hire purchase up to a certain value, or offer to supply goods or services up to a certain value without disclosing to the lender or customer that you are an undisclosed bankrupt.
Overseas travel restrictions – You can only travel overseas with the permission of your trustee.
Limits on legal proceedings – You can only take or continue legal proceedings without the permission of your trustee except in relation to personal injury to you or your family.
Each and every person’s situation is different. At Fix Bad Credit, we strongly recommend you speak with one of our debt experts to get an understanding of how your own personal and financial circumstances may be impacted.
Our Aim
At Fix Bad Credit, our mission is your financial freedom. One of our experts in debt help in Melbourne will carefully assess your personal and financial situation so we can tailor a personalised debt solution package to best meet your goals. Your personalised debt solution package will contain options to help you take back control of your debt and start you on your journey to financial freedom.
If you are desperate to get debt help in Victoria, we are just a call away. If you are faced with challenges paying money you owe, our team of experts can assist you with a detailed evaluation of your options. Dependent on your specific circumstances there are both informal and formal debt solution options available to you. The Fix Bad Credit team is experienced in providing all types of debt help in Melbourne.
Our Aim
At Fix Bad Credit, our mission is your financial freedom. One of our experts in debt help in Melbourne will carefully assess your personal and financial situation so we can tailor a personalised debt solution package to best meet your goals. Your personalised debt solution package will contain options to help you take back control of your debt and start you on your journey to financial freedom.
If you are desperate to get debt help in Victoria, we are just a call away. If you are faced with challenges paying money you owe, our team of experts can assist you with a detailed evaluation of your options. Dependent on your specific circumstances there are both informal and formal debt solution options available to you. The Fix Bad Credit team is experienced in providing all types of debt help in Melbourne.
What are the alternatives to Bankruptcy?
Formal Debt Solutions

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What is an Informal Debt Solution?
The negotiated new payment plan could include paying your debts in a single, lower lump sum or continuing with a different repayment plan involving one, or a combination of options.
What are your Informal Debt Solution Options?
How can Fix Bad Credit help?
For more information on what might be the best option for you, call one of Fix Bad Credit’s debt experts on 1300 406 172. Our debt experts can help you assess your financial situation for free and identify debt solution options tailored for your specific personal financial circumstances, using their in-depth knowledge of credit law and debt processes.
Bankruptcy in the Era of COVID-19
Benefits Of Working With Fix Bad Credit
No more missed payments – unlike before when you had several bills to pay with different due dates, the Fix Bad Credit team in Melbourne can put together a payment plan for you where all you have is one payment each month, making it far easier to manage and much harder to forget.
Fix bad credit – The team at Fix Bad Credit in Melbourne will negotiate a repayment plan with your creditors that makes it easier for you to make your repayments on time and in full, demonstrating good repayment habits and avoiding defaults through late payments, improving your credit score.
No more annoying calls from creditors – lenders enlist the help of debt collectors to help collect payments from people who haven’t been paying up or who have a history of paying late. When you sign up with Fix Bad Credit, expect any calls from creditors to stop.
Get Your Free Credit and Debt Assessment Now
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How It Works
Becoming Financially Free Is Easier Than You Think

Step 1: Identify
Asking for help is the hardest part. Which is why you get a personal debt and credit solution expert to confidentially review your unique situation and work with you every step of the way

Step 2: Plan
We then work with you, providing options for improving your credit, reducing debt and managing any repayments

Step 3: Repair
We can then assist with your chosen options each step of the way, implementing your unique credit and debt solution strategy

Step 4: Monitor
We offer an on-going service to continue to monitor your credit situation, regularly reviewing any changes to your credit score and identifying potential problems before they affect your financial well-being.