Bankruptcy

Bankruptcy is a formal way to deal with debt that you can’t pay back. It clears your debt, but it can affect your life in other ways.

How you become bankrupt

There are 2 main ways you can become bankrupt if you owe money. You can apply for bankruptcy yourself, or a court can make you bankrupt if someone you owe money to (a creditor) asks them to.

Managing your bankruptcy

You can manage your bankruptcy online. This section contains information on how to update your details and deal with creditors. It also has information on applying for permission to travel overseas, and permission to be self-employed or employed by a relative.