What are the consequences of bankruptcy?

This fact sheet explains what to expect and your obligations during bankruptcy.

This fact sheet is about the consequences of bankruptcy. It explains what happens when you go bankrupt, your obligations during the bankruptcy, and what happens at the end of your bankruptcy period.

Depending on your circumstances, bankruptcy looks a little different for everybody.

This fact sheet covers some common questions, like:

• What happens to my assets during bankruptcy?
• What happens to my income while I’m bankrupt?
• What are my obligations while bankrupt?
• When is a bankruptcy over?

More resources

Further reading:

For further information on the consequences of bankruptcy see AFSA’s website.