AFSA is committed to supporting Australians to make informed decisions about their finances.
Recently, we did some research to determine how well our clients understand the consequences of bankruptcy. We found some consequences are well understood, particularly ones that apply to everyone who is bankrupt. For example, most people know they need to disclose bankruptcy when applying for a loan. Some consequences are less well understood – such as paying income contributions.
We’re working on making our website information more tailored and engaging. We want to help people make the right decision for them, and avoid nasty surprises after they’ve gone bankrupt.
We’ve just launched five case studies, each covering a specific consequence of bankruptcy. We used fictional characters and stories to personalise the information. We hope this will help people understand the consequences relevant to them.
Check out each of the case studies and provide your feedback below.
Running a business during bankruptcy
Jointly owning a house and becoming bankrupt
Travelling overseas while bankrupt
Earning income during bankruptcy
Getting an inheritance while bankrupt
We’d love your feedback
- Do you think the case studies are useful? Why? Why not?
- Have you got ideas for other important consequences to cover in a case study?
- What about topics for case studies for debt agreements?