File for bankruptcy in your own home, your way

Personal Bankruptcy
April 7, 2017 eBankruptcy

If your bills are starting to pile up and you feel like you’re drowning in debt, bankruptcy may be an option for you. While this may be a stressful and emotional time, the process involved does not need to be complicated. You can, in fact, file for bankruptcy from the comfort of your own home.

Enter ebankruptcy, a fully automated platform capable of providing solutions to your financial problems online. The process is easily begun by visiting our website, and clicking the apply button. This will take you an online application form. Once completed, you are then guided to the next steps in the process.

Bankruptcy has traditionally been viewed as a complex and lonely process, with many negative stigmas attached. This does not need to be the case. In fact there are many myths surrounding bankruptcy, including:

Loss of property

This is not always the case. If there is equity in your property it will need to be paid to your trustee, however, if there is a shortfall to your mortgage payments, most circumstances will permit you retaining the property. You will need to keep up the mortgage payments from this point.

Job loss

Unless your employment contract stipulates you cannot be personally insolvent, or your line of work is prevented by law from practicing while insolvent (such as real estate or nursing), you will not lose your job.

Loss of automobile

You are able to keep your vehicles up to the threshold value of $7,700. If you have finance on your vehicle, you should be able to keep it as long as the equity is below $7,700 and you continue to make the finance payments.

Bankruptcy is the end

This is not the case. The stigma associated with bankruptcy has changed over the years and bankruptcy is now seem as an option to allow you a fresh start to rebuild your financial position.

Permanent record on credit file

This is not the case. Your bankruptcy remains on your credit file for 5 years from the date which you became bankrupt or 2 years from when your bankruptcy ends, whichever is the earliest.

All debts eliminated

Not true. Most debts are extinguished, however, some exceptions exist which include; HECS debt, child support and court imposed fines.

Inability to obtain credit whilst bankrupt

As a bankrupt you can obtain credit or hire or leased/goods up to a limit of $5,546.

If you would like more information on how to make the personal bankruptcy process easier, and how to complete it in your own home, don’t hesitate to call our professional team on 1-800 ESOLVE for more information. You may even find there are other options to consider first.