Bankruptcy
Clear advice on personal insolvency — for debtors and creditors.
Personal insolvency advice — for debtors and creditors.
Overview
Bankruptcy at Khoury Scott & Associates.
Bankruptcy carries serious and long-lasting consequences. We act for individuals navigating financial difficulty — explaining the alternatives, the process and the practical impact — and we act for creditors enforcing their rights under the Bankruptcy Act 1966 (Cth).
The right step depends on your circumstances. We take the time to understand them before recommending bankruptcy, a Part IX debt agreement, a Part X personal insolvency agreement or a negotiated settlement.
Who we help
Typical clients in bankruptcy.
- —Individuals served with a bankruptcy notice or creditor's petition
- —Debtors considering voluntary bankruptcy or alternatives
- —Creditors enforcing judgment debts of $10,000 or more
- —Bankrupts seeking annulment or discharge advice
- —Trustees and family members affected by a bankruptcy
How we help
Areas of work within bankruptcy.
Bankruptcy advice
Plain-English advice on what bankruptcy means for your assets, income, credit, employment and travel.
Bankruptcy notices & petitions
Responding to bankruptcy notices within the 21-day deadline and defending creditor's petitions.
Part IX debt agreements
Formal alternatives to bankruptcy for individuals under prescribed income, debt and asset thresholds.
Part X personal insolvency agreements
Negotiated arrangements with creditors as an alternative to bankruptcy for higher-income or asset-rich debtors.
Creditor enforcement
Issuing bankruptcy notices and creditor's petitions on judgment debts of $10,000 or more.
Annulment & discharge
Applications to annul a bankruptcy or advice on the path to and consequences of discharge.
Our approach
A clear, consistent process — start to finish.
01
Confidential assessment
We review your full financial position — assets, income, liabilities and the underlying judgments or demands.
02
Options review
We explain bankruptcy, Part IX, Part X and negotiated settlement side-by-side, with consequences and likely outcomes.
03
Action
We respond to notices and petitions on tight timelines, file court applications, or implement the chosen alternative.
04
Ongoing support
We continue to advise through the trustee process, annulment applications, or discharge — as your matter requires.
Questions
Bankruptcy — answered.
The questions we are most often asked. Not a substitute for advice on your specific matter.
- A creditor can pursue bankruptcy where they hold a judgment debt of $10,000 or more. The process starts with a bankruptcy notice giving you 21 days to comply, then a creditor's petition if you don't.
Talk to us
Ready to discuss your matter?
A short, confidential conversation is the best place to start. We will tell you whether we can help, and if not, point you in the right direction.
Book an appointment