Bankruptcy Law and Debt
Our Bankruptcy Lawyers in Adelaide are dedicated to helping individuals and businesses facing financial difficulties. Initiate Lawyers provide a range of services related to Bankruptcy including debt management, Bankruptcy proceedings, Bankruptcy Debtors Petitions and asset protection.
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Our team of experienced Bankruptcy Lawyers understand the complexities of Bankruptcy law and can guide you through the process with empathy and professionalism. We offer personalised advice tailored to your specific situation and work tirelessly to achieve the best possible outcome for you.
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Whether you are considering Bankruptcy as a solution to your financial problems or need assistance with debt recovery, Initiate Lawyers offer experienced Bankruptcy Lawyers in Adelaide who are here to help.
Contact us to schedule a consultation and take the first step towards a fresh financial start
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Asset Protection (Prior to Bankruptcy)
Bankruptcy can be a daunting process, and many individuals worry about losing their assets. Our Bankruptcy Lawyers in Adelaide can help you protect your assets, such as your home, car, and personal property where possible. We can advise you on exemptions available under Bankruptcy law in Adelaide and develop strategies to safeguard your affairs assets in the event a future Bankruptcy event occurs.
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Becoming Bankrupt, Bankruptcy Proceedings
If you decide to file for Bankruptcy, our Bankruptcy Lawyers can guide you through the process. We can assist you with preparing and filing bankruptcy petitions, attending court hearings, and managing communication with your creditors and/or your trustee. Our Bankruptcy Law team can also advise you on the various types of Bankruptcy applications and alternatives and determine the best course of action for your unique circumstances.
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Debt Agreements
A debt agreement and a personal insolvency agreement (PIA) is an alternative to Bankruptcy that can allow you to settle your debts without the need for formal Bankruptcy proceedings. Our Bankruptcy Lawyers in Adelaide can explain to you how a debt agreement or PIA will work with your creditors, including a repayment plan and engaging a Bankruptcy trustee. By working with our Bankruptcy team, you may be able to avoid the negative consequences of Bankruptcy and preserve your financial future
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Section 73 Composition
A Section 73 composition is a formal agreement between a debtor and their creditors that allows the debtor to settle their Bankruptcy early.
In a s73 composition, the debtor offers a lump sum or regular payments to their creditors in exchange for essentially an "annulment" of the Bankruptcy.
Our Bankruptcy Lawyers can assist in negotiating a s73 composition by liaising with the Bankruptcy trustee on the debtor's behalf and drafting a proposal that outlines the terms. Our lawyers can also advise on the debtor's financial position and determine the amount of the proposal. If you are considering a s73 composition, contact our Bankruptcy Lawyers in Adelaide for expert advice and assistance in negotiating an composition agreement that meets your needs