Bankruptcy and your home
If you are buying your home and have a mortgage the equity in your home will vest with your Trustee. Depending on circumstances there may be options to get that equity back and in turn keep your home. You really need to seek proper advice before going bankrupt. Call us today and we will explain how it is likely to work based on your circumstances.
If you own your home with no mortgage and you go bankrupt your home will vest with your Trustee. This means that the Trustee will sell the home so that your creditors can be paid.
If you are renting your home and want to continue renting it bankruptcy will not affect your situation as long as you can pay your rent payments.
Phone 1300 163 017
Government & Other
AFCA - Australian Financial Complaints Authority
AFSA - Australian Financial Security Authority
Beyond Blue - Mental Health