Personal bankruptcy
Clear advice on bankruptcy, its consequences and the alternatives available under the Bankruptcy Act.
Client reviews
Verified Google reviews
Julz
Sale of a business
Michael Lim was fantastic in helping us with the contract and the sale of our café. He was professional, knowledgeable and made the whole process much easier for us. Michael explained everything clearly, responded to our questions quickly and made sure everything was handled properly from start to finish. Selling a business can be stressful, but we felt confident knowing Michael was looking after the legal side for us. We really appreciate all his help and would highly recommend Michael to anyone needing assistance with a business sale or contract.
Juliana M.
Building defects claim
Thank you to Maysaa, Guy and your teams for the support you have provided throughout the defects claims process and during the rectification works. Your guidance, responsiveness, and commitment have been invaluable, and we are truly grateful for the effort and expertise you have contributed in helping finalise this matter. Thank you again for your continued support, dedication, and partnership. It has been a pleasure working with you throughout this process.
Dariush H.
Ongoing legal matters
I've had a great experience with Michael and the team at Project Lawyers. Michael is professional, knowledgeable and always takes the time to explain things clearly. He has assisted me with several matters over the years and has always been responsive and focused on finding practical solutions. I really appreciate the level of service from Michael and his team and would happily recommend them.
Maddalena V.
Compulsory acquisition
I chose Project Lawyers and in particular Maysaa Parrino to assist me through the complex process of a compulsory acquisition. I found Maysaa an exceptional lawyer but most importantly a direct and strong communicator. Persistence, team work (thank you Matt for all your work as well) has provided the keys to achieve the best outcome possible. Thank you.
Victoria B.
Compulsory acquisition
I engaged Project Lawyers earlier this year for a compulsory acquisition project. Maysaa, Matt and Michael were exceptional. I was super impressed with the professionalism of everyone within Project Lawyers and would not hesitate to recommend them.
Practice area
Understand your options before you act
There is a stigma attached to insolvency, but the law provides avenues and options for the benefit of everyone involved, and it is often better to act sooner rather than later.
A person becomes bankrupt when they are unable to pay their debts as they fall due. There are statutory processes for making a person bankrupt if they commit an act of bankruptcy, such as failing to comply with a bankruptcy notice, and a person can also become bankrupt voluntarily if their debts are unmanageable. It is important to understand the consequences of bankruptcy and the alternatives available under the Bankruptcy Act.
Bankruptcy notices and acts of bankruptcy
Voluntary bankruptcy
The consequences of becoming bankrupt
Compositions and personal insolvency arrangements
Debt agreements
Why Choose Us
Bankruptcy advice built around your circumstances
Financial difficulty can affect every part of life. We help individuals and creditors understand their options and the consequences of each, so decisions are made with clear advice.
Understanding your position
Advice on how bankruptcy works and what it would mean for you.
Alternatives
Guidance on debt agreements, personal insolvency agreements and other options.
Acting for creditors
Advice for creditors on bankruptcy notices and creditors’ petitions.
Property and assets
Advice on how bankruptcy may affect your home and other assets.
Get in touch
Call (02) 9025 0808, email law@projectlawyers.com.au or send an enquiry with a brief outline of your matter and any upcoming deadlines.
Initial discussion
We talk through your situation, the documents involved and what you want to achieve, then confirm who in our team is best placed to help.
Advice and a plan
We explain your options, the likely process and the next steps, so you can make an informed decision before work begins.
We act for you
From contracts and negotiations to mediation and court proceedings, we manage the legal work and keep you updated throughout.
Frequently Asked Questions
Frequently asked questions
Answers to the questions clients ask most. Can’t see yours? Send us a message.
When does a person become bankrupt?
A person can be made bankrupt when they are unable to pay their debts as they fall due, for example after failing to comply with a bankruptcy notice.
Can I become bankrupt voluntarily?
Yes. A person can choose to become bankrupt if their debts have become unmanageable.
Are there alternatives to bankruptcy?
The Bankruptcy Act provides alternatives, including a composition or arrangement with creditors, or a debt agreement.
What are the consequences of bankruptcy?
Bankruptcy has significant consequences for your finances and affairs. We explain them so you can make an informed decision.
When should I get advice?
It is often better to act sooner rather than later. Early advice usually leaves more options open.
What is a debt agreement?
A debt agreement is an alternative to bankruptcy under the Bankruptcy Act, where you agree with your creditors to repay part of your debts over time.
What happens to my home if I become bankrupt?
Property that is not exempt, which can include your interest in a home, generally vests in the trustee. What happens next depends on your circumstances, so it is worth getting advice before you take any steps.
How do I contact Project Lawyers about a matter?
Still have a question?
Tell us about your matter and our team will get back to you.
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