Legal Bankruptcy & Personal Insolvency

We have a combined experience of over 40 years in helping individuals to deal with and come out of personal insolvency. 

Whichever side of the table you are on, whether you’re an insolvent individual or a creditor, we can help you navigate Australian personal insolvency laws and work to ensure the best outcomes for you. 

Our services are competitively priced, and we are always available to answer your questions. 

Our Approach 

In every matter that we take on, our first step is to understand the facts of your case, to enable us tailor our advice to your specific situation. We will then advise you on your options, recommend the most commercially viable strategy for your case, and inform you of the next steps. We take action swiftly, and keep you updated throughout the process. 

Our services to individuals

One option for dealing with personal insolvency is to file a bankruptcy petition with the Australian Financial Security Authority. If your petition is accepted, you will be registered in the National Personal Insolvency Index (NPII) as a bankrupt. However, this will have long term consequences for you – you may be at risk of losing your household items, and it will affect your ability to travel during the period of bankruptcy, and your eligibility to obtain loans in the future, among other things. 

At Denning Legal, we believe that filing a Bankruptcy Petition should only be a last resort. Talk to us first before considering such a drastic step, we will advise you on your eligibility for other options under the Bankruptcy Act 1966, such as: 

▶︎ Temporary Debt Protection  

This provides you with a 21-day protection period from being pursued by your unsecured creditors, while you decide how to proceed. 

▶︎ Part IX Debt Agreements 

This a formal insolvency option that involves entering into a legally binding agreement with your creditors to pay a reduced amount. The payments are made to a debt agreement administrator, rather than to the individual creditors. Once you complete the payments, your creditors can no longer recover the rest of the debt from you. 

▶︎ Part X Personal Insolvency Agreements 

This is also a formal insolvency option that involves entering into a legal binding agreement with your creditors. The agreement will set out a process to your creditors for paying all or part of your debt. A trustee will also be appointed to see to it that you follow the process. The above options give you a better chance at retaining your assets and do not restrict you from travelling. 

If you are eligible for any of these arrangements, we will also assist you with negotiating with your creditors and registering the agreements with the AFSA. 

▶︎ Annulment of Bankruptcy

If you are already registered as a bankrupt, you may also contact us to advise you on how to annul your bankruptcy and guide you through the process of doing so. 

Our services for creditors

▶︎ Filing of Creditor’s Petition

If you have obtained judgment against a debtor and the debtor is yet to settle the judgment, we can prepare and file a petition on your behalf before the court for the debtor to be declared bankrupt and their assets sequestrated. 

▶︎ Negotiation of Debt Agreements and Personal Insolvency Agreements 

Where a debtor has proposed to enter into a debt agreement or personal insolvency can also assist you with negotiating the agreements and taking enforcement action if there is non-compliance by the debtor.