Complete the Forms

Step 4 – Complete the Forms

The Insolvency Trustee Service Australia (ITSA) publish and process Bankruptcy Forms.

To become bankrupt you will need to complete and file the following documents:

• Statement of Affairs;
• Debtors Petition; and
• Prescribed Information

The bankruptcy forms can be downloaded from the ITSA web site here, FREE of charge.

Statement of Affairs

A debtors’ petition must be accompanied by a Statement of Affairs.  The Statement of Affairs must be completed accurately and truthfully, in that all personal details must be correct and you must truthfully disclose all assets and liabilities.  Failure to do so can result in your bankruptcy term can be extended.

Debtors’ Petition

A Debtors’ Petition must be completed and lodged with when filing for bankruptcy.

Prescribed Information

You will need to complete the prescribed information and lodge it together with your Statement of Affairs and Debtors’ Petition.

We can help you complete these forms for a fixed fee of $99, if you need assistance.

You also have the choice to appoint a private Registered Trustee. Debt Free has a Registered Trustee. If you don’t appoint a private Trustee, the Official Receiver at ITSA will become your Trustee.

Our friendly personal debt advisors will discuss your situation in a confidential manner. We have helped many clients around Australia with the decision regarding bankruptcy.

Lodging your Bankruptcy Application

You need to lodge your Bankruptcy Application with ITSA in your capital city.  If you want to appoint a private trustee you will need to obtain a consent to act from a Registered Trustee.  Debt Free has a Registered Trustee if you want your bankrupt estate managed by a private trustee. Alternatively ITSA publish a list of private trustees who you are free to approach.

Bankruptcy forms can be downloaded at any time.  If you need assistance in completing the forms call us toll free on 1800 98 10 70.