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Visit our dedicated small business restructuring site for small business owners facing financial distress.
Stepping into bankruptcy can feel like entering a maze—full of twists, turns, and unexpected consequences. This guide from AFSA is like your personal Minotaur-defeating Theseus, offering a torchlight to illuminate the path ahead, showing you what to expect around each corner, with the reassurance of a hand on your shoulder.
In their comprehensive guide you will learn the following (*taken directly from the AFSA website):
Your name will permanently appear on the National Personal Insolvency Index (NPII)
Bankruptcy normally lasts for 3 years and 1 day from the day they accept your Bankruptcy Form
Further Reading
Title | Short Summary |
|---|---|
DPN eBook for Directors | A guide for directors on Director Penalty Notices: what a DPN is, why timing matters, and how directors and their advisers can respond. |
Deciphering A Credit Report | The OAIC's plain-language guide to credit reporting explains what information appears on your credit report and how long each entry stays. Useful reading for anyone managing debt, rebuilding their credit history, or trying to understand how financial decisions affect their creditworthiness over time. |
ASIC Closing A Small Business | Your guide to deciphering the National Personal Insolvency Index (NPII), this AFSA resource offers clear, detailed insights into personal insolvency records, making a complex system understandable for professionals and individuals alike. |
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