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Why does it cost money to go bankrupt?

Why does it cost money to go bankrupt?

Cheryl explains bankruptcy fees arise from work to retain assets like homes, cars, and travel rights, plus trustee payments for buyouts, unlike free government options for those surrendering everything. Clients pay for controlled processes preserving lifestyle amid insolvency.

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Any or all of these reasons for business owners with a Pty Ltd company who:

  • have closed or are likely to close their business without any money left 
  • cannot afford $15,000 but want to place their company into liquidation  
  • want to do the right thing and inform their creditors properly about the business closing down 
  • want to draw a line in the sand so they can get on with their future.

If you have personal assets you want to protect, like a family home or director’s guarantees, this may not be for you, but you should ask us.

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