How much does it cost to become bankrupt? - Nicholls Co

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How much does it cost to become bankrupt?

How much does it cost to become bankrupt?

FAQs | Applying for Bankruptcy

If you apply for bankruptcy yourself there is no fee to pay. Many people find the application process daunting and obtain professional assistance for their comfort and reassurance at a very stressful time.

To become bankrupt, there are two ways Nicholls & Co can help you:

  1. No Cost Option – if Nicholls & Co will be administering your bankrupt estate Nicholls & Co our bankruptcy trustee is Alan Nicholls. He is a registered trustee with the Australian Financial Security Authority (AFSA). Nicholls & Co specialises in administering bankruptcies for people who have assets and, or who may be required to pay income contributions during their bankruptcy. Nicholls & Co aims to provide a high level of service and support for bankruptcies we are administering. If Alan Nicholls is going to be appointed as the trustee to administer your bankruptcy, we will provide you with our support and guidance to become bankrupt for no cost. We will even lodge your completed forms for you, again at no cost. We should also mention that if Nicholls & Co administers your bankruptcy, you never receive an invoice from Nicholls & Co. The fees of Nicholls & Co get paid from the bankrupt estate.
  2. [paper_cost] Option – if you have a simple bankruptcy and Nicholls & Co will not be administering your bankruptcy Nicholls & Co will not be administering your bankruptcy, we will still do our best to give you comfort and reassurance through the process to become bankrupt. We charge a [paper_cost] flat fee (no exceptions) for this service. We will answer your questions and give you guidance to assist you to properly understand the questions and complete your Bankruptcy Application. We will also lodge your completed form for you and that is included in our  [paper_cost] flat fee.

If you would like Nicholls & Co to help with your bankruptcy application call on 1300 060 122 or email helpdesk@nichollsco.com.au.

For further information on bankruptcy, we recommend our articles ‘Pathways to Bankruptcy – Essential Facts’, ‘Life During Bankruptcy’ and ‘The Bankruptcy Option Explained’.

Nicholls & Co have a complementary ‘help desk’ to answer your questions on bankruptcy. Call Nicholls & Co on 1300 060 122 or email helpdesk@nichollsco.com.au.

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